State of Alaska Department of Revenue Sells 1,441 Shares of Cars.com Inc. (NYSE:CARS)

State of Alaska Department of Revenue reduced its holdings in shares of Cars.com Inc. (NYSE:CARS) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,661 shares of the company’s stock after selling 1,441 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cars.com were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in Cars.com by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,013 shares of the company’s stock valued at $757,000 after purchasing an additional 2,692 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cars.com by 19.4% in the second quarter. American Century Companies Inc. now owns 1,078,757 shares of the company’s stock valued at $21,252,000 after purchasing an additional 175,094 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cars.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock worth $123,983,000 after buying an additional 81,645 shares during the last quarter. CWM LLC lifted its stake in shares of Cars.com by 253.2% during the 2nd quarter. CWM LLC now owns 2,197 shares of the company’s stock worth $43,000 after buying an additional 1,575 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Cars.com by 23.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 526,643 shares of the company’s stock worth $10,375,000 after buying an additional 101,000 shares during the period. 89.15% of the stock is currently owned by institutional investors.

Cars.com Stock Performance

Shares of NYSE:CARS opened at $17.86 on Friday. Cars.com Inc. has a 12-month low of $15.05 and a 12-month high of $21.24. The company’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $17.97. The firm has a market cap of $1.18 billion, a PE ratio of 48.22 and a beta of 2.10. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Cars.com had a return on equity of 6.70% and a net margin of 3.51%. The company had revenue of $178.89 million for the quarter, compared to analyst estimates of $181.51 million. Equities research analysts predict that Cars.com Inc. will post 1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CARS shares. UBS Group lowered their price target on shares of Cars.com from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. B. Riley lowered their target price on Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of Cars.com in a report on Monday. Finally, JPMorgan Chase & Co. lowered Cars.com from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $19.00 in a report on Friday, August 9th.

About Cars.com

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.