Cars.com Inc. (NYSE:CARS) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its holdings in Cars.com Inc. (NYSE:CARS) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,544 shares of the company’s stock after selling 3,242 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Cars.com were worth $6,179,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in shares of Cars.com by 193.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock valued at $29,000 after buying an additional 1,079 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Cars.com by 813.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company’s stock valued at $37,000 after buying an additional 1,878 shares during the period. KBC Group NV lifted its stake in shares of Cars.com by 68.2% during the fourth quarter. KBC Group NV now owns 3,885 shares of the company’s stock valued at $67,000 after buying an additional 1,575 shares during the period. Parkside Financial Bank & Trust raised its stake in Cars.com by 41.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock worth $89,000 after purchasing an additional 1,516 shares during the period. Finally, Principal Securities Inc. raised its stake in Cars.com by 22.1% during the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company’s stock worth $152,000 after purchasing an additional 1,592 shares during the period. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Cars.com Stock Performance

Shares of CARS stock opened at $11.83 on Monday. The company’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $15.72. Cars.com Inc. has a 52 week low of $9.87 and a 52 week high of $21.24. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The company has a market cap of $751.54 million, a PE ratio of 20.40 and a beta of 1.92.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CARS. UBS Group cut their price target on shares of Cars.com from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. DA Davidson cut their price target on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cars.com from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

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.