Cars.com Inc. (NYSE:CARS) Shares Acquired by Fmr LLC

Fmr LLC lifted its holdings in Cars.com Inc. (NYSE:CARS) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,902,561 shares of the company’s stock after purchasing an additional 162,692 shares during the quarter. Fmr LLC owned about 15.30% of Cars.com worth $165,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARS. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cars.com during the 2nd quarter worth about $38,000. CWM LLC lifted its holdings in shares of Cars.com by 253.2% during the second quarter. CWM LLC now owns 2,197 shares of the company’s stock worth $43,000 after purchasing an additional 1,575 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Cars.com by 145.2% during the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after purchasing an additional 1,864 shares during the period. MQS Management LLC purchased a new stake in Cars.com in the third quarter valued at approximately $171,000. Finally, Point72 DIFC Ltd acquired a new position in Cars.com in the 2nd quarter worth approximately $180,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Cars.com Stock Down 0.1 %

Shares of CARS opened at $19.94 on Wednesday. The firm has a market cap of $1.29 billion, a P/E ratio of 34.38 and a beta of 2.12. Cars.com Inc. has a 12 month low of $15.05 and a 12 month high of $21.24. The stock’s 50 day moving average is $17.18 and its two-hundred day moving average is $18.20. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93.

Analysts Set New Price Targets

Several analysts have commented on CARS shares. JPMorgan Chase & Co. lifted their price objective on shares of Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Wednesday, November 13th. UBS Group increased their price target on Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, B. Riley decreased their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Insider Activity at Cars.com

In related news, CFO Sonia Jain sold 24,971 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total transaction of $492,927.54. Following the transaction, the chief financial officer now directly owns 229,229 shares in the company, valued at approximately $4,524,980.46. The trade was a 9.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jill A. Greenthal sold 4,524 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the sale, the director now owns 101,963 shares of the company’s stock, valued at approximately $2,024,985.18. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is owned by corporate insiders.

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.