Stock Traders Purchase Large Volume of Call Options on TrueCar (TRUE)

TrueCar Inc (NASDAQ:TRUE) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 17,208 call options on the company. This is an increase of approximately 13,344% compared to the typical daily volume of 128 call options.

In other TrueCar news, EVP Neeraj Gunsagar sold 10,443 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $11.28, for a total transaction of $117,797.04. Following the transaction, the executive vice president now directly owns 254,144 shares in the company, valued at approximately $2,866,744.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John Pierantoni sold 2,494 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total transaction of $28,157.26. Following the transaction, the senior vice president now owns 57,513 shares in the company, valued at $649,321.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,670 shares of company stock worth $177,654. Insiders own 15.50% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Caledonia Private Investments Pty Ltd raised its position in shares of TrueCar by 35.7% in the 3rd quarter. Caledonia Private Investments Pty Ltd now owns 16,240,758 shares of the technology company’s stock valued at $98,542,000 after acquiring an additional 4,268,501 shares during the period. Vanguard Group Inc. raised its position in shares of TrueCar by 43.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after acquiring an additional 2,004,642 shares during the period. Senvest Management LLC raised its position in shares of TrueCar by 4.6% in the 3rd quarter. Senvest Management LLC now owns 3,975,385 shares of the technology company’s stock valued at $62,771,000 after acquiring an additional 174,103 shares during the period. EastBay Asset Management LLC raised its position in shares of TrueCar by 94.7% in the 2nd quarter. EastBay Asset Management LLC now owns 2,894,876 shares of the technology company’s stock valued at $57,695,000 after acquiring an additional 1,408,301 shares during the period. Finally, First Trust Advisors LP raised its position in shares of TrueCar by 3.8% in the 3rd quarter. First Trust Advisors LP now owns 2,851,218 shares of the technology company’s stock valued at $45,021,000 after acquiring an additional 104,381 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Shares of TrueCar (NASDAQ TRUE) opened at $12.27 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31. TrueCar has a 52-week low of $10.16 and a 52-week high of $21.75.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Monday, November 6th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). TrueCar had a negative net margin of 10.29% and a negative return on equity of 10.38%. research analysts forecast that TrueCar will post -0.32 EPS for the current year.

A number of research firms have issued reports on TRUE. B. Riley restated a “buy” rating and set a $18.00 target price (down from $21.00) on shares of TrueCar in a research report on Tuesday, November 7th. Royal Bank of Canada cut their target price on shares of TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Zacks Investment Research downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Morgan Stanley upgraded shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price on the stock in a research report on Monday, October 2nd. Finally, Goldman Sachs Group restated a “neutral” rating and set a $17.00 target price on shares of TrueCar in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $17.50.

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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.

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