Nordea Investment Management AB Decreases Stock Holdings in Cars.com Inc. $CARS

Nordea Investment Management AB cut its stake in Cars.com Inc. (NYSE:CARS) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 512,549 shares of the company’s stock after selling 70,145 shares during the period. Nordea Investment Management AB owned approximately 0.86% of Cars.com worth $6,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARS. Jackson Creek Investment Advisors LLC acquired a new position in shares of Cars.com during the 3rd quarter valued at about $1,673,000. Villanova Investment Management Co LLC grew its holdings in shares of Cars.com by 36.7% in the third quarter. Villanova Investment Management Co LLC now owns 367,070 shares of the company’s stock valued at $4,486,000 after purchasing an additional 98,559 shares during the period. Intrinsic Edge Capital Management LLC acquired a new stake in Cars.com during the second quarter worth about $5,210,000. SG Americas Securities LLC acquired a new stake in Cars.com during the third quarter worth about $2,496,000. Finally, Hill Path Capital LP raised its stake in Cars.com by 23.2% during the third quarter. Hill Path Capital LP now owns 2,481,032 shares of the company’s stock worth $30,318,000 after purchasing an additional 468,000 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CARS shares. BTIG Research decreased their target price on shares of Cars.com from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price target (down from $16.00) on shares of Cars.com in a research report on Friday, February 27th. Zacks Research cut Cars.com from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cars.com in a research report on Tuesday, January 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a research report on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.08.

Cars.com Stock Performance

Shares of Cars.com stock opened at $8.16 on Friday. The stock has a market capitalization of $478.71 million, a price-to-earnings ratio of 25.51 and a beta of 1.50. Cars.com Inc. has a 12 month low of $7.40 and a 12 month high of $13.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.87 and a quick ratio of 1.87. The business has a 50-day moving average of $10.00 and a 200 day moving average of $11.28.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.12). Cars.com had a net margin of 2.77% and a return on equity of 17.31%. The business had revenue of $183.90 million during the quarter, compared to analysts’ expectations of $183.44 million. During the same period in the previous year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cars.com Inc. will post 1.19 earnings per share for the current year.

Cars.com Company Profile

Cars.com operates as a leading online automotive marketplace in the United States, connecting car shoppers with new and used vehicle listings from dealerships and private sellers. The platform enables consumers to research makes and models, compare prices, read expert and user reviews, and access tools such as TrueCost to estimate ownership expenses over time. Through its website and mobile applications, Cars.com aims to simplify the car-buying process by aggregating detailed vehicle data, payment calculators, and dealership ratings into a single user-friendly experience.

On the dealer side, Cars.com provides a suite of marketing and lead-generation services designed to help automotive retailers reach potential buyers and manage their online presence.