Charles Schwab Investment Management Inc. Purchases 30,368 Shares of Cars.com Inc. (NYSE:CARS)

Charles Schwab Investment Management Inc. lifted its position in shares of Cars.com Inc. (NYSE:CARS) by 3.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 834,851 shares of the company’s stock after buying an additional 30,368 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Cars.com were worth $14,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Cars.com by 193.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock valued at $29,000 after acquiring an additional 1,079 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Cars.com by 41.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock valued at $89,000 after acquiring an additional 1,516 shares in the last quarter. Versor Investments LP boosted its holdings in Cars.com by 59.3% in the fourth quarter. Versor Investments LP now owns 43,327 shares of the company’s stock worth $751,000 after purchasing an additional 16,127 shares during the last quarter. Truist Financial Corp boosted its holdings in Cars.com by 9.0% in the fourth quarter. Truist Financial Corp now owns 53,381 shares of the company’s stock worth $925,000 after purchasing an additional 4,387 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Cars.com by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 289,182 shares of the company’s stock worth $5,012,000 after purchasing an additional 2,522 shares during the last quarter. Institutional investors own 89.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CARS shares. Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a report on Tuesday, March 4th. DA Davidson dropped their target price on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cars.com from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cars.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Cars.com Trading Down 0.7 %

Shares of Cars.com stock opened at $11.41 on Friday. The company’s fifty day simple moving average is $15.58 and its 200-day simple moving average is $16.81. The stock has a market capitalization of $728.18 million, a PE ratio of 19.66 and a beta of 2.16. Cars.com Inc. has a 1-year low of $10.80 and a 1-year high of $21.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79.

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.