Short Interest in Cars.com Inc. (NYSE:CARS) Decreases By 10.4%

Cars.com Inc. (NYSE:CARS) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,640,000 shares, a drop of 10.4% from the October 15th total of 1,830,000 shares. Based on an average trading volume of 593,800 shares, the short-interest ratio is presently 2.8 days. Currently, 2.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

CARS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, November 8th. UBS Group raised their target price on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 8th. B. Riley dropped their target price on Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a report on Wednesday, November 13th.

Cars.com Stock Performance

Cars.com stock traded down $0.04 during mid-day trading on Monday, reaching $18.68. 384,443 shares of the company’s stock were exchanged, compared to its average volume of 482,169. The business’s fifty day simple moving average is $16.78 and its 200 day simple moving average is $18.07. The firm has a market capitalization of $1.21 billion, a PE ratio of 32.33 and a beta of 2.10. Cars.com has a one year low of $15.05 and a one year high of $21.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Institutional Trading of Cars.com

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Cars.com by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,462,312 shares of the company’s stock valued at $24,513,000 after buying an additional 6,021 shares during the period. Barclays PLC grew its position in shares of Cars.com by 340.9% in the third quarter. Barclays PLC now owns 108,177 shares of the company’s stock valued at $1,813,000 after purchasing an additional 83,642 shares in the last quarter. MML Investors Services LLC grew its position in shares of Cars.com by 17.5% in the third quarter. MML Investors Services LLC now owns 67,905 shares of the company’s stock valued at $1,138,000 after purchasing an additional 10,137 shares in the last quarter. Jane Street Group LLC grew its position in Cars.com by 20.1% during the third quarter. Jane Street Group LLC now owns 207,352 shares of the company’s stock worth $3,475,000 after buying an additional 34,666 shares in the last quarter. Finally, State Street Corp grew its position in Cars.com by 0.6% during the third quarter. State Street Corp now owns 2,419,422 shares of the company’s stock worth $40,550,000 after buying an additional 15,038 shares in the last quarter. 89.15% of the stock is currently owned by institutional investors.

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.