Barclays PLC increased its stake in shares of TrueCar, Inc. (NASDAQ:TRUE – Free Report) by 169.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 130,062 shares of the technology company’s stock after purchasing an additional 81,745 shares during the period. Barclays PLC’s holdings in TrueCar were worth $448,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in TRUE. Intech Investment Management LLC purchased a new position in shares of TrueCar during the third quarter worth $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TrueCar during the 3rd quarter worth about $43,000. SG Americas Securities LLC boosted its holdings in TrueCar by 126.5% during the 3rd quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock valued at $120,000 after acquiring an additional 19,349 shares during the period. BNP Paribas Financial Markets grew its position in TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after acquiring an additional 8,027 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in TrueCar by 182.5% during the second quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock worth $261,000 after purchasing an additional 53,965 shares during the period. Institutional investors and hedge funds own 79.44% of the company’s stock.
Analyst Ratings Changes
TRUE has been the subject of several recent research reports. Lake Street Capital started coverage on shares of TrueCar in a research note on Monday, October 7th. They issued a “buy” rating and a $6.00 price objective for the company. BTIG Research raised their price target on shares of TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. B. Riley boosted their price target on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of TrueCar in a report on Tuesday, November 26th. Finally, StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TrueCar currently has a consensus rating of “Moderate Buy” and an average price target of $4.88.
TrueCar Trading Down 0.3 %
Shares of NASDAQ:TRUE opened at $3.49 on Friday. TrueCar, Inc. has a 52 week low of $2.56 and a 52 week high of $4.62. The company’s 50 day moving average is $4.06 and its two-hundred day moving average is $3.52. The company has a market cap of $303.48 million, a PE ratio of -12.03 and a beta of 1.78.
TrueCar (NASDAQ:TRUE – Get Free Report) last issued its earnings results on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. The firm had revenue of $46.54 million for the quarter, compared to analyst estimates of $45.82 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, equities research analysts expect that TrueCar, Inc. will post -0.3 EPS for the current year.
TrueCar Company Profile
TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.
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