Amundi Boosts Stake in Cars.com Inc. (NYSE:CARS)

Amundi increased its position in Cars.com Inc. (NYSE:CARS) by 164.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,353 shares of the company’s stock after purchasing an additional 18,240 shares during the period. Amundi’s holdings in Cars.com were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CARS. Pacer Advisors Inc. raised its stake in Cars.com by 62,357.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company’s stock valued at $41,798,000 after acquiring an additional 2,489,939 shares during the last quarter. FMR LLC raised its stake in Cars.com by 1.7% during the 3rd quarter. FMR LLC now owns 9,902,561 shares of the company’s stock valued at $165,967,000 after acquiring an additional 162,692 shares during the last quarter. Barclays PLC raised its stake in Cars.com by 340.9% during the 3rd quarter. Barclays PLC now owns 108,177 shares of the company’s stock valued at $1,813,000 after acquiring an additional 83,642 shares during the last quarter. Nordea Investment Management AB raised its stake in Cars.com by 35.9% during the 4th quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock valued at $4,939,000 after acquiring an additional 74,133 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in Cars.com by 304.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 61,809 shares of the company’s stock valued at $1,036,000 after acquiring an additional 46,515 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. DA Davidson reduced 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, February 28th. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their target price on Cars.com from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Cars.com Stock Performance

NYSE CARS opened at $11.41 on Friday. The stock has a market capitalization of $728.18 million, a price-to-earnings ratio of 19.66 and a beta of 2.16. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $15.58 and its two-hundred day moving average is $16.81. Cars.com Inc. has a 12-month low of $10.80 and a 12-month high of $21.24.

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.