First Eagle Investment Management LLC Increases Stake in Cars.com Inc. $CARS

First Eagle Investment Management LLC increased its position in shares of Cars.com Inc. (NYSE:CARS) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 607,143 shares of the company’s stock after purchasing an additional 22,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.96% of Cars.com worth $7,195,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARS. PNC Financial Services Group Inc. lifted its stake in Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock worth $61,000 after purchasing an additional 1,010 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Cars.com by 4.4% in the second quarter. State of Alaska Department of Revenue now owns 34,468 shares of the company’s stock worth $408,000 after buying an additional 1,466 shares during the period. Inspire Investing LLC raised its holdings in shares of Cars.com by 6.7% in the second quarter. Inspire Investing LLC now owns 32,569 shares of the company’s stock worth $386,000 after buying an additional 2,050 shares during the period. CWM LLC lifted its stake in shares of Cars.com by 119.9% during the 2nd quarter. CWM LLC now owns 4,227 shares of the company’s stock worth $50,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cars.com by 19.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the company’s stock valued at $200,000 after acquiring an additional 2,922 shares during the period. 89.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CARS. Zacks Research downgraded Cars.com from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a report on Monday, November 3rd. B. Riley reissued a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Wall Street Zen lowered shares of Cars.com from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, UBS Group lifted their price target on shares of Cars.com from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cars.com presently has a consensus rating of “Moderate Buy” and an average price target of $17.90.

Cars.com Trading Up 0.4%

NYSE:CARS opened at $11.14 on Friday. Cars.com Inc. has a one year low of $9.56 and a one year high of $20.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market cap of $684.19 million, a P/E ratio of 17.96 and a beta of 1.74. The firm has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $11.82.

Cars.com (NYSE:CARS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $181.57 million for the quarter, compared to analysts’ expectations of $181.37 million. Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities analysts anticipate that Cars.com Inc. will post 1.19 EPS for the current fiscal year.

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.