Cars.com Inc. (NYSE:CARS) Stock Position Decreased by Ninety One UK Ltd

Ninety One UK Ltd cut its stake in shares of Cars.com Inc. (NYSE:CARS) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,059,380 shares of the company’s stock after selling 53,689 shares during the quarter. Ninety One UK Ltd owned 7.34% of Cars.com worth $72,501,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Cars.com by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 290,166 shares of the company’s stock valued at $3,761,000 after buying an additional 886 shares in the last quarter. Occudo Quantitative Strategies LP increased its stake in shares of Cars.com by 8.8% in the first quarter. Occudo Quantitative Strategies LP now owns 11,772 shares of the company’s stock worth $153,000 after purchasing an additional 957 shares during the period. Swiss National Bank increased its stake in shares of Cars.com by 1.1% in the first quarter. Swiss National Bank now owns 153,900 shares of the company’s stock worth $1,995,000 after purchasing an additional 1,700 shares during the period. First Trust Advisors LP increased its stake in Cars.com by 2.3% during the first quarter. First Trust Advisors LP now owns 99,581 shares of the company’s stock valued at $2,270,000 after acquiring an additional 2,205 shares during the period. Finally, Eaton Vance Management bought a new position in Cars.com during the first quarter valued at about $31,000. 93.77% of the stock is owned by institutional investors and hedge funds.

Shares of CARS opened at $13.24 on Monday. Cars.com Inc. has a 12 month low of $7.23 and a 12 month high of $15.71. The firm’s 50 day moving average is $12.51 and its 200-day moving average is $13.34. The stock has a market capitalization of $913.10 million, a PE ratio of 165.52 and a beta of 2.35. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.41.

Cars.com (NYSE:CARS) last posted its quarterly earnings results on Thursday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.33). The firm had revenue of $155.50 million for the quarter, compared to analyst estimates of $152.89 million. Cars.com had a return on equity of 13.06% and a net margin of 1.02%. The business’s revenue was up 52.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 EPS. Equities research analysts predict that Cars.com Inc. will post 0.29 earnings per share for the current fiscal year.

Several research analysts have recently commented on CARS shares. Truist started coverage on Cars.com in a report on Friday, August 27th. They issued a “buy” rating and a $18.00 target price on the stock. They noted that the move was a valuation call. Truist Financial began coverage on shares of Cars.com in a research report on Friday, August 27th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Truist Securities began coverage on shares of Cars.com in a research report on Friday, August 27th. They set a “buy” rating and a $18.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $16.25.

In related news, CRO Douglas Neal Miller sold 8,399 shares of the stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $12.01, for a total transaction of $100,871.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

About Cars.com

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.

Further Reading: Green Investing

Institutional Ownership by Quarter for Cars.com (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.