Truist Financial Corp Buys 4,387 Shares of Cars.com Inc. (NYSE:CARS)

Truist Financial Corp lifted its stake in Cars.com Inc. (NYSE:CARS) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,381 shares of the company’s stock after buying an additional 4,387 shares during the quarter. Truist Financial Corp’s holdings in Cars.com were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its holdings in Cars.com by 18.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,909 shares of the company’s stock valued at $216,000 after buying an additional 2,047 shares in the last quarter. Assetmark Inc. grew its holdings in Cars.com by 11.2% during the 3rd quarter. Assetmark Inc. now owns 54,410 shares of the company’s stock valued at $912,000 after buying an additional 5,461 shares in the last quarter. Versor Investments LP purchased a new position in Cars.com during the 3rd quarter valued at approximately $456,000. GSA Capital Partners LLP purchased a new position in Cars.com during the 3rd quarter valued at approximately $1,222,000. Finally, Victory Capital Management Inc. grew its holdings in Cars.com by 130.9% during the 3rd quarter. Victory Capital Management Inc. now owns 46,344 shares of the company’s stock valued at $777,000 after buying an additional 26,276 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Price Performance

Shares of CARS stock opened at $13.19 on Friday. Cars.com Inc. has a 52-week low of $11.78 and a 52-week high of $21.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $853.91 million, a P/E ratio of 22.74 and a beta of 2.15. The stock has a 50 day moving average price of $17.13 and a 200 day moving average price of $17.40.

Wall Street Analyst Weigh In

CARS has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price target on Cars.com from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Friday. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a research note on Monday, February 24th. UBS Group raised their price objective on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, DA Davidson lowered their price objective on Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

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.