TrueCar, Inc. (NASDAQ:TRUE) – Investment analysts at B. Riley decreased their FY2017 earnings estimates for TrueCar in a report issued on Tuesday. B. Riley analyst S. Sinha now forecasts that the technology company will post earnings of ($0.33) per share for the year, down from their previous estimate of ($0.31). B. Riley has a “Buy” rating and a $18.00 price target on the stock. B. Riley also issued estimates for TrueCar’s Q4 2017 earnings at ($0.07) EPS, Q2 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.15) EPS and FY2019 earnings at ($0.06) EPS.

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TRUE has been the subject of a number of other reports. Royal Bank Of Canada reduced their price objective on shares of TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday. Zacks Investment Research lowered shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. ValuEngine lowered shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley upgraded shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price target for the company in a research note on Monday, October 2nd. Finally, Cowen and Company reiterated a “hold” rating and issued a $15.00 price target on shares of TrueCar in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.44.

Shares of TrueCar (NASDAQ TRUE) traded up $0.25 during midday trading on Friday, reaching $11.17. 599,068 shares of the company were exchanged, compared to its average volume of 1,552,914. TrueCar has a one year low of $10.16 and a one year high of $21.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.06 and a quick ratio of 6.06.

A number of large investors have recently modified their holdings of the business. Caledonia Private Investments Pty Ltd lifted its holdings in TrueCar by 158.6% during the second quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock valued at $238,607,000 after purchasing an additional 7,342,518 shares in the last quarter. Vanguard Group Inc. lifted its holdings in TrueCar by 43.9% during the second quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after purchasing an additional 2,004,642 shares in the last quarter. EastBay Asset Management LLC lifted its holdings in TrueCar by 94.7% during the second quarter. EastBay Asset Management LLC now owns 2,894,876 shares of the technology company’s stock valued at $57,695,000 after purchasing an additional 1,408,301 shares in the last quarter. First Trust Advisors LP lifted its holdings in TrueCar by 3.8% during the third quarter. First Trust Advisors LP now owns 2,851,218 shares of the technology company’s stock valued at $45,021,000 after purchasing an additional 104,381 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new position in TrueCar during the second quarter valued at approximately $56,303,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Robert Buce sold 32,999 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $16.52, for a total transaction of $545,143.48. Following the completion of the sale, the director now directly owns 181,558 shares in the company, valued at $2,999,338.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Krafcik sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $16.50, for a total transaction of $165,000.00. Following the sale, the director now owns 61,678 shares of the company’s stock, valued at $1,017,687. The disclosure for this sale can be found here. Insiders have sold 500,669 shares of company stock valued at $8,333,936 over the last 90 days. 15.50% of the stock is currently owned by company insiders.

TrueCar Company Profile

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.

Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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