First Eagle Investment Management LLC Increases Stake in Cars.com Inc. (NYSE:CARS)

First Eagle Investment Management LLC lifted its position in Cars.com Inc. (NYSE:CARS) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 526,643 shares of the company’s stock after acquiring an additional 101,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Cars.com were worth $10,375,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Cars.com during the 1st quarter valued at $28,000. CWM LLC boosted its stake in shares of Cars.com by 253.2% during the second quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after purchasing an additional 1,575 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Cars.com by 23.3% in the first quarter. EntryPoint Capital LLC now owns 10,173 shares of the company’s stock worth $175,000 after purchasing an additional 1,922 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Cars.com in the 4th quarter worth about $195,000. Finally, Park Avenue Securities LLC bought a new stake in Cars.com during the 1st quarter valued at about $177,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cars.com

In related news, CEO Thomas Alex Vetter sold 17,674 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $19.23, for a total transaction of $339,871.02. Following the sale, the chief executive officer now owns 598,934 shares of the company’s stock, valued at $11,517,500.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.12% of the company’s stock.

Wall Street Analyst Weigh In

CARS has been the topic of a number of research analyst reports. B. Riley dropped their target price on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. UBS Group lowered their price target on Cars.com from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lowered Cars.com from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $19.00 in a research report on Friday, August 9th.

Cars.com Trading Up 0.4 %

NYSE CARS opened at $18.31 on Friday. Cars.com Inc. has a one year low of $14.82 and a one year high of $21.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.66 and a beta of 2.11. The company’s 50-day simple moving average is $18.26 and its two-hundred day simple moving average is $18.20.

Cars.com (NYSE:CARS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). The business had revenue of $178.89 million for the quarter, compared to analysts’ expectations of $181.51 million. Cars.com had a net margin of 3.51% and a return on equity of 6.70%. Equities analysts forecast that Cars.com Inc. will post 1.22 EPS for the current fiscal year.

Cars.com 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.