American International Group Inc. decreased its position in Cars.com Inc. (NYSE:CARS) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,926 shares of the company’s stock after selling 14,666 shares during the quarter. American International Group Inc. owned 0.25% of Cars.com worth $4,857,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gabelli Funds LLC purchased a new stake in Cars.com in the second quarter valued at approximately $203,000. OppenheimerFunds Inc. purchased a new stake in Cars.com in the second quarter valued at approximately $226,000. GSA Capital Partners LLP acquired a new position in shares of Cars.com in the second quarter worth $253,000. Gamco Investors INC. ET AL acquired a new position in shares of Cars.com in the second quarter worth $298,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of Cars.com in the third quarter worth $298,000.
Several equities analysts have commented on the stock. Citigroup assumed coverage on shares of Cars.com in a research note on Friday. They issued a “neutral” rating and a $27.00 price target for the company. BTIG Research assumed coverage on shares of Cars.com in a research note on Tuesday, November 13th. They issued a “neutral” rating for the company. ValuEngine upgraded shares of Cars.com from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Cars.com from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Barrington Research restated a “buy” rating on shares of Cars.com in a research note on Monday, November 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cars.com currently has a consensus rating of “Hold” and a consensus price target of $35.10.
NYSE:CARS opened at $24.27 on Friday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.21. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Cars.com Inc. has a 52 week low of $23.69 and a 52 week high of $32.94.
Cars.com (NYSE:CARS) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The business had revenue of $169.30 million during the quarter, compared to analyst estimates of $168.04 million. Cars.com had a return on equity of 7.77% and a net margin of 27.69%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, sell-side analysts anticipate that Cars.com Inc. will post 1.85 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This story was reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/12/08/cars-com-inc-cars-shares-sold-by-american-international-group-inc.html.
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.
Featured Article: Put Option
Want to see what other hedge funds are holding CARS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cars.com Inc. (NYSE:CARS).
Receive News & Ratings for Cars.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cars.com and related companies with MarketBeat.com's FREE daily email newsletter.