D. E. Shaw & Co. Inc. increased its position in TrueCar Inc (NASDAQ:TRUE) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,341,222 shares of the technology company’s stock after purchasing an additional 270,063 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 1.29% of TrueCar worth $12,151,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its stake in TrueCar by 295.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock valued at $101,000 after purchasing an additional 5,911 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of TrueCar by 4.8% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 45,626 shares of the technology company’s stock valued at $413,000 after acquiring an additional 2,089 shares during the last quarter. Legal & General Group Plc raised its stake in shares of TrueCar by 29.0% during the third quarter. Legal & General Group Plc now owns 33,327 shares of the technology company’s stock valued at $470,000 after acquiring an additional 7,502 shares during the last quarter. B. Riley Financial Inc. raised its stake in shares of TrueCar by 112.9% during the fourth quarter. B. Riley Financial Inc. now owns 84,545 shares of the technology company’s stock valued at $766,000 after acquiring an additional 44,840 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of TrueCar by 50.4% during the fourth quarter. Rhumbline Advisers now owns 120,482 shares of the technology company’s stock valued at $1,092,000 after acquiring an additional 40,351 shares during the last quarter. 95.09% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on TRUE shares. SunTrust Banks started coverage on shares of TrueCar in a research note on Monday, December 17th. They set a “hold” rating for the company. BTIG Research downgraded shares of TrueCar from a “buy” rating to a “neutral” rating and set a $9.05 price target for the company. in a research note on Friday, December 21st. Zacks Investment Research downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Royal Bank of Canada downgraded shares of TrueCar from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $12.00 to $9.00 in a research note on Friday, February 15th. Finally, B. Riley reiterated a “neutral” rating and set a $9.50 price objective (down from $16.50) on shares of TrueCar in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $10.45.
Shares of TRUE traded down $0.11 during trading hours on Monday, hitting $6.33. 1,220,200 shares of the stock were exchanged, compared to its average volume of 894,399. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.07. The stock has a market cap of $671.72 million, a PE ratio of -24.35 and a beta of 2.08. TrueCar Inc has a fifty-two week low of $6.19 and a fifty-two week high of $14.55.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Thursday, February 14th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $91.10 million during the quarter, compared to analyst estimates of $96.03 million. TrueCar had a negative return on equity of 7.85% and a negative net margin of 8.01%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. Sell-side analysts anticipate that TrueCar Inc will post -0.23 EPS for the current fiscal year.
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TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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