State Street Corp Increases Position in Cars.com Inc. (NYSE:CARS)

State Street Corp increased its stake in shares of Cars.com Inc. (NYSE:CARS) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 2,419,422 shares of the company’s stock after acquiring an additional 15,038 shares during the period. State Street Corp’s holdings in Cars.com were worth $40,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARS. BNP Paribas Financial Markets lifted its position in shares of Cars.com by 8.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company’s stock valued at $244,000 after acquiring an additional 1,075 shares during the period. The Manufacturers Life Insurance Company increased its stake in Cars.com by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,832 shares of the company’s stock valued at $627,000 after purchasing an additional 1,101 shares in the last quarter. CWM LLC increased its stake in Cars.com by 62.4% in the 3rd quarter. CWM LLC now owns 3,569 shares of the company’s stock valued at $60,000 after purchasing an additional 1,372 shares in the last quarter. TD Asset Management Inc raised its holdings in Cars.com by 8.7% during the second quarter. TD Asset Management Inc now owns 19,900 shares of the company’s stock worth $392,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in 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 in the last quarter. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Cars.com Stock Performance

NYSE CARS opened at $17.46 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 30.10 and a beta of 2.12. Cars.com Inc. has a fifty-two week low of $15.05 and a fifty-two week high of $21.24. The business has a fifty day moving average of $17.85 and a 200-day moving average of $18.17.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CARS. UBS Group raised their price target on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a report on Wednesday, November 13th.

Insider Activity at Cars.com

In other Cars.com news, CFO Sonia Jain sold 24,971 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total value of $492,927.54. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jill A. Greenthal sold 4,524 shares of the 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 directly owns 101,963 shares in the company, valued at approximately $2,024,985.18. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by corporate insiders.

Cars.com Company Profile

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.