Cars.com Inc. $CARS Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its holdings in shares of Cars.com Inc. (NYSE:CARS) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,989 shares of the company’s stock after purchasing an additional 31,548 shares during the period. Peregrine Capital Management LLC owned approximately 0.51% of Cars.com worth $3,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Cars.com by 10.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 923,314 shares of the company’s stock worth $10,406,000 after purchasing an additional 88,463 shares during the period. Nordea Investment Management AB increased its position in Cars.com by 33.7% during the 2nd quarter. Nordea Investment Management AB now owns 557,299 shares of the company’s stock worth $6,626,000 after purchasing an additional 140,493 shares during the period. Lord Abbett & CO. LLC increased its position in Cars.com by 16.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 413,769 shares of the company’s stock worth $4,663,000 after purchasing an additional 57,225 shares during the period. LPL Financial LLC increased 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 purchasing an additional 215,651 shares during the period. Finally, Trexquant Investment LP increased its position in Cars.com by 184.3% during the 1st quarter. Trexquant Investment LP now owns 405,947 shares of the company’s stock worth $4,575,000 after purchasing an additional 263,148 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.

Insider Transactions at Cars.com

In related news, insider Matthew B. Crawford sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.77, for a total value of $176,550.00. Following the sale, the insider owned 98,461 shares of the company’s stock, valued at approximately $1,158,885.97. This represents a 13.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.12% of the company’s stock.

Cars.com Price Performance

Shares of NYSE:CARS opened at $11.00 on Wednesday. The business’s 50 day simple moving average is $12.25 and its 200-day simple moving average is $11.85. The firm has a market capitalization of $675.53 million, a price-to-earnings ratio of 17.73 and a beta of 1.76. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. Cars.com Inc. has a 12 month low of $9.56 and a 12 month high of $20.47.

Cars.com (NYSE:CARS) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The firm had revenue of $178.74 million for the quarter, compared to analysts’ expectations of $179.43 million. During the same period last year, the firm earned $0.38 EPS. Cars.com’s revenue was down .1% compared to the same quarter last year. As a group, equities analysts forecast that Cars.com Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CARS. Wall Street Zen cut Cars.com from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group boosted their price target on Cars.com from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. B. Riley reissued a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of Cars.com in a research note on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Cars.com in a research note on Wednesday, October 8th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.90.

Cars.com 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.