Silver Point Capital L.P. lessened its stake in shares of Cars.com Inc. (NYSE:CARS) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,339,000 shares of the company’s stock after selling 164,500 shares during the quarter. Cars.com makes up approximately 3.9% of Silver Point Capital L.P.’s portfolio, making the stock its 6th biggest position. Silver Point Capital L.P. owned 1.92% of Cars.com worth $38,014,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CARS. Dimensional Fund Advisors LP boosted its stake in shares of Cars.com by 45.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,519,222 shares of the company’s stock valued at $128,301,000 after purchasing an additional 1,409,984 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Cars.com during the first quarter valued at approximately $37,403,000. Sei Investments Co. boosted its stake in shares of Cars.com by 1,277.4% during the second quarter. Sei Investments Co. now owns 867,726 shares of the company’s stock valued at $24,636,000 after purchasing an additional 804,727 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Cars.com by 311.8% during the second quarter. Wells Fargo & Company MN now owns 551,092 shares of the company’s stock valued at $15,645,000 after purchasing an additional 417,266 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Cars.com during the second quarter valued at approximately $9,684,000.
Shares of Cars.com stock traded down $0.39 during midday trading on Tuesday, reaching $26.41. 4,622 shares of the company’s stock traded hands, compared to its average volume of 566,137. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.82 billion, a PE ratio of 11.75, a P/E/G ratio of 2.63 and a beta of -0.16. Cars.com Inc. has a 12 month low of $20.94 and a 12 month high of $32.94.
Cars.com (NYSE:CARS) last announced its earnings results on Wednesday, August 8th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.39). The business had revenue of $168.50 million for the quarter, compared to the consensus estimate of $171.75 million. Cars.com had a net margin of 28.90% and a return on equity of 7.78%. Cars.com’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. research analysts anticipate that Cars.com Inc. will post 1.99 earnings per share for the current year.
CARS has been the subject of a number of analyst reports. Barrington Research reissued a “buy” rating on shares of Cars.com in a research note on Monday, May 14th. Zacks Investment Research downgraded Cars.com from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 5th. DA Davidson set a $34.00 target price on Cars.com and gave the company a “buy” rating in a report on Wednesday, May 30th. ValuEngine downgraded Cars.com from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Finally, Benchmark restated a “hold” rating on shares of Cars.com in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.13.
Cars.com Company Profile
Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.
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