Southpoint Capital Advisors LP lessened its stake in Cars.com Inc (NYSE:CARS) by 70.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,500,000 shares of the company’s stock after selling 3,500,000 shares during the period. Cars.com accounts for approximately 2.1% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 23rd largest holding. Southpoint Capital Advisors LP owned about 2.09% of Cars.com worth $43,260,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Mercantile Trust Co. purchased a new position in Cars.com in the fourth quarter valued at about $105,000. AlphaOne Investment Services LLC purchased a new position in Cars.com in the fourth quarter valued at about $107,000. Crossmark Global Holdings Inc. purchased a new position in Cars.com in the third quarter valued at about $212,000. OppenheimerFunds Inc. purchased a new position in Cars.com in the fourth quarter valued at about $223,000. Finally, First Republic Investment Management Inc. purchased a new position in Cars.com in the fourth quarter valued at about $237,000.
CARS has been the topic of several analyst reports. Zacks Investment Research lowered Cars.com from a “hold” rating to a “strong sell” rating in a research note on Monday, November 13th. B. Riley reiterated a “buy” rating and issued a $32.00 target price on shares of Cars.com in a research note on Tuesday, December 19th. ValuEngine lowered Cars.com from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Barrington Research reiterated a “buy” rating and issued a $42.50 target price on shares of Cars.com in a research note on Sunday, February 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.88.
Cars.com (NYSE:CARS) last issued its quarterly earnings results on Tuesday, March 6th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.16. Cars.com had a return on equity of 8.16% and a net margin of 35.84%. The business had revenue of $156.57 million for the quarter, compared to analyst estimates of $156.30 million. The business’s revenue was down 3.2% compared to the same quarter last year. equities research analysts predict that Cars.com Inc will post 0.96 earnings per share for the current year.
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Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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