GAMMA Investing LLC Raises Stake in CarGurus, Inc. (NASDAQ:CARG)

GAMMA Investing LLC boosted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 19.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,459 shares of the company’s stock after buying an additional 393 shares during the quarter. GAMMA Investing LLC’s holdings in CarGurus were worth $74,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CARG. Wellington Management Group LLP increased its stake in shares of CarGurus by 39.6% during the 4th quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after purchasing an additional 1,619,076 shares during the last quarter. Marshall Wace LLP raised its stake in shares of CarGurus by 3,512.4% in the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock valued at $12,585,000 after buying an additional 467,042 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of CarGurus by 26.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after buying an additional 228,380 shares during the last quarter. SG Capital Management LLC bought a new position in shares of CarGurus during the 1st quarter worth $4,222,000. Finally, Edgestream Partners L.P. bought a new position in shares of CarGurus during the 1st quarter worth $3,978,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $28.34, for a total value of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at $13,619,722.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the sale, the chief operating officer now owns 480,583 shares of the company’s stock, valued at $13,619,722.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total transaction of $102,857.85. Following the transaction, the chief technology officer now directly owns 205,696 shares in the company, valued at $6,053,633.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,897 shares of company stock valued at $1,027,982. Insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CARG. Needham & Company LLC upped their price objective on shares of CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th. B. Riley raised their price objective on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JMP Securities reissued a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a report on Monday, September 9th. Oppenheimer raised their price target on CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $29.35.

CarGurus Stock Up 1.1 %

NASDAQ:CARG opened at $31.45 on Wednesday. The stock has a market cap of $3.28 billion, a P/E ratio of 112.32, a PEG ratio of 1.48 and a beta of 1.56. The business’s 50-day moving average price is $28.51 and its two-hundred day moving average price is $25.70. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $31.55.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The business had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. On average, equities research analysts expect that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.