TrueCar, Inc. (TRUE) Director Robert Buce Sells 32,999 Shares
TrueCar, Inc. (NASDAQ:TRUE) Director Robert Buce sold 32,999 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $16.52, for a total value of $545,143.48. Following the completion of the sale, the director now directly owns 181,558 shares of the company’s stock, valued at $2,999,338.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
TrueCar, Inc. (NASDAQ TRUE) traded down 0.72% during mid-day trading on Monday, reaching $16.55. The company’s stock had a trading volume of 995,440 shares. TrueCar, Inc. has a 52 week low of $8.09 and a 52 week high of $21.75. The firm has a 50-day moving average of $19.19 and a 200-day moving average of $16.81. The stock’s market capitalization is $1.63 billion.
TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $81.82 million during the quarter, compared to the consensus estimate of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. On average, equities research analysts expect that TrueCar, Inc. will post $0.02 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of TRUE. Wasatch Advisors Inc. purchased a new stake in shares of TrueCar during the second quarter valued at about $5,254,000. EastBay Asset Management LLC increased its position in TrueCar by 94.7% in the second quarter. EastBay Asset Management LLC now owns 2,894,876 shares of the technology company’s stock worth $57,695,000 after buying an additional 1,408,301 shares during the period. Ameritas Investment Partners Inc. increased its position in TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after buying an additional 734 shares during the period. Castleark Management LLC increased its position in TrueCar by 32.3% in the second quarter. Castleark Management LLC now owns 481,548 shares of the technology company’s stock worth $9,597,000 after buying an additional 117,513 shares during the period. Finally, California State Teachers Retirement System increased its position in TrueCar by 3.6% in the second quarter. California State Teachers Retirement System now owns 110,902 shares of the technology company’s stock worth $2,210,000 after buying an additional 3,839 shares during the period. 84.57% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research cut TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reissued an “underweight” rating and issued a $13.00 target price (up from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. B. Riley reissued a “buy” rating and issued a $21.00 target price on shares of TrueCar in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 target price on shares of TrueCar in a research report on Friday, August 4th. Finally, TheStreet raised TrueCar from a “d” rating to a “c” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.56.
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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