Great West Life Assurance Co. Can bought a new position in shares of Cars.com Inc. (NYSE:CARS – Get Rating ) during the third quarter, according to its most recent disclosure with the SEC. The fund bought 72,695 shares of the company’s stock, valued at approximately $836,000. Great West Life Assurance Co. Can owned 0.11% of Cars.com at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold stakes in the stock. Texas Permanent School Fund boosted its holdings in Cars.com by 2.5% in the second quarter. Texas Permanent School Fund now owns 47,214 shares of the company’s stock valued at $445,000 after purchasing an additional 1,163 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Cars.com by 8.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,786 shares of the company’s stock valued at $204,000 after purchasing an additional 1,417 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Cars.com by 17.2% in the second quarter. Mutual of America Capital Management LLC now owns 10,972 shares of the company’s stock valued at $103,000 after purchasing an additional 1,612 shares during the period. Captrust Financial Advisors boosted its holdings in Cars.com by 117.4% during the second quarter. Captrust Financial Advisors now owns 5,392 shares of the company’s stock valued at $51,000 after purchasing an additional 2,912 shares during the period. Finally, Greenwich Wealth Management LLC boosted its holdings in Cars.com by 26.6% during the second quarter. Greenwich Wealth Management LLC now owns 14,935 shares of the company’s stock valued at $141,000 after purchasing an additional 3,142 shares during the period. 97.40% of the shares are owned by institutional investors and hedge funds.
In related news, Director Thomas E. Hale sold 4,064 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $14.52, for a total value of $59,009.28. Following the completion of the sale, the director now directly owns 76,677 shares of the company’s stock, valued at approximately $1,113,350.04. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. 1.50% of shares are owned by company insiders.
Promote and demote an analyst
Separately, DA Davidson reduced their target price on Cars.com from $18.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, November 4th.
Cars.com stock rose 0.3%
Shares of NYSE:CARS opened at $17.15 on Thursday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 1,716.72 and a beta of 1.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45, and a quick ratio of 1.45. The business’s 50-day moving average is $14.51 and its 200-day moving average is $13.30. Cars.com Inc. has a 1-year low of $8.75 and a 1-year high of $17.37.
Cars.com (NYSE:CARS – Get Rating ) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.18). The business had revenue of $164.60 million during the quarter, compared to analyst estimates of $164.16 million. Cars.com had a net margin of 0.15% and a return on equity of 0.26%. Stock analysts predict that Cars.com Inc. will post 0.28 earnings per share for the current year.
Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers with consumers across the United States. The company offers a range of digital solutions that connect people researching cars or looking to buy a car with car dealerships and OEMs.
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