Intech Investment Management LLC Invests $369,000 in Cars.com Inc. (NYSE:CARS)

Intech Investment Management LLC purchased a new stake in Cars.com Inc. (NYSE:CARSFree Report) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 22,017 shares of the company’s stock, valued at approximately $369,000.

Several other hedge funds have also recently bought and sold shares of CARS. American Century Companies Inc. increased 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 worth $21,252,000 after acquiring an additional 175,094 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Cars.com by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 596,327 shares of the company’s stock valued at $11,748,000 after purchasing an additional 20,463 shares in the last quarter. First Eagle Investment Management LLC raised its position in Cars.com by 23.7% in the second quarter. First Eagle Investment Management LLC now owns 526,643 shares of the company’s stock valued at $10,375,000 after purchasing an additional 101,000 shares during the period. Renaissance Technologies LLC raised its position in Cars.com by 9.7% in the second quarter. Renaissance Technologies LLC now owns 480,600 shares of the company’s stock valued at $9,468,000 after purchasing an additional 42,600 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Cars.com by 40.0% during the second quarter. Envestnet Asset Management Inc. now owns 232,721 shares of the company’s stock worth $4,585,000 after purchasing an additional 66,545 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CARS shares. UBS Group increased their target price on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. 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. B. Riley reduced their target price on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cars.com in a report on Wednesday, November 13th.

Get Our Latest Report on Cars.com

Insider Activity

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

Cars.com Trading Down 0.1 %

Shares of CARS opened at $19.94 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. Cars.com Inc. has a one year low of $15.05 and a one year high of $21.24. The stock has a 50-day moving average price of $17.18 and a 200 day moving average price of $18.20. The company has a market capitalization of $1.29 billion, a P/E ratio of 34.38 and a beta of 2.12.

About Cars.com

(Free Report)

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.

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Institutional Ownership by Quarter for Cars.com (NYSE:CARS)

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