Cars.com Inc. $CARS Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in Cars.com Inc. (NYSE:CARS) by 6.3% in the second quarter, HoldingsChannel.com reports. The fund owned 1,373,022 shares of the company’s stock after selling 92,416 shares during the period. Geode Capital Management LLC’s holdings in Cars.com were worth $16,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Cars.com in the first quarter valued at about $362,000. Cetera Investment Advisers acquired a new position in Cars.com in the 1st quarter worth approximately $368,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cars.com by 19.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the company’s stock worth $200,000 after buying an additional 2,922 shares during the period. LPL Financial LLC raised its position in Cars.com by 109.7% during the 1st quarter. LPL Financial LLC now owns 412,282 shares of the company’s stock worth $4,646,000 after buying an additional 215,651 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Cars.com by 59.2% during the 1st quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock valued at $618,000 after acquiring an additional 20,376 shares during the period. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CARS shares. Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson reiterated a “buy” rating and set a $13.50 price objective on shares of Cars.com in a research note on Tuesday, November 18th. UBS Group boosted their price objective on Cars.com from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cars.com in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.70.

Cars.com Stock Up 2.1%

Shares of CARS opened at $11.84 on Tuesday. The firm has a market cap of $708.37 million, a P/E ratio of 19.10 and a beta of 1.74. Cars.com Inc. has a 12 month low of $9.56 and a 12 month high of $20.47. The stock’s 50 day moving average is $11.30 and its two-hundred day moving average is $11.83. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.94.

Cars.com (NYSE:CARS) last announced its earnings results on Thursday, November 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The business had revenue of $181.57 million for the quarter, compared to analysts’ expectations of $181.37 million. During the same quarter last year, the business earned $0.41 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts predict that Cars.com Inc. will post 1.19 earnings per share for the current fiscal year.

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.