Chicago Equity Partners LLC Invests $3.34 Million in CarGurus Inc (CARG)

Chicago Equity Partners LLC bought a new stake in CarGurus Inc (NASDAQ:CARG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 59,910 shares of the company’s stock, valued at approximately $3,336,000. Chicago Equity Partners LLC owned about 0.05% of CarGurus at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in shares of CarGurus by 12.8% in the 1st quarter. Northern Trust Corp now owns 20,129 shares of the company’s stock valued at $775,000 after acquiring an additional 2,292 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of CarGurus in the 3rd quarter valued at about $206,000. Millennium Management LLC lifted its stake in shares of CarGurus by 33.4% in the 2nd quarter. Millennium Management LLC now owns 17,302 shares of the company’s stock valued at $601,000 after acquiring an additional 4,334 shares during the last quarter. First Interstate Bank lifted its stake in shares of CarGurus by 100,560.0% in the 2nd quarter. First Interstate Bank now owns 5,033 shares of the company’s stock valued at $175,000 after acquiring an additional 5,028 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of CarGurus in the 3rd quarter valued at about $292,000. 63.35% of the stock is owned by institutional investors.

CARG has been the subject of a number of recent research reports. BidaskClub lowered CarGurus from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. ValuEngine raised CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Zacks Investment Research lowered CarGurus from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. JMP Securities raised CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada raised CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 price target for the company in a research report on Wednesday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. CarGurus presently has a consensus rating of “Buy” and a consensus price target of $53.20.

CARG opened at $42.03 on Friday. The company has a market cap of $4.62 billion and a price-to-earnings ratio of 350.25. CarGurus Inc has a one year low of $28.00 and a one year high of $57.25.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $119.04 million during the quarter, compared to analyst estimates of $112.70 million. CarGurus had a return on equity of 12.60% and a net margin of 10.34%. CarGurus’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 EPS. On average, equities research analysts forecast that CarGurus Inc will post 0.1 earnings per share for the current fiscal year.

In other CarGurus news, Director Anastasios Parafestas sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $55.53, for a total transaction of $6,663,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Langley Steinert sold 117,406 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $41.55, for a total value of $4,878,219.30. The disclosure for this sale can be found here. Insiders have sold a total of 5,916,671 shares of company stock valued at $292,445,963 in the last ninety days. 51.03% of the stock is currently owned by corporate insiders.

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CarGurus Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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