Great Lakes Advisors LLC boosted its stake in shares of Cars.com Inc. (NYSE:CARS) by 36.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,056 shares of the company’s stock after acquiring an additional 54,366 shares during the quarter. Great Lakes Advisors LLC’s holdings in Cars.com were worth $4,607,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CARS. Oregon Public Employees Retirement Fund increased its position in shares of Cars.com by 1,824.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 546,509 shares of the company’s stock valued at $25,000 after buying an additional 518,116 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Cars.com in the fourth quarter worth approximately $28,000. Bessemer Group Inc. acquired a new stake in shares of Cars.com in the fourth quarter worth approximately $36,000. Covington Capital Management boosted its stake in shares of Cars.com by 1,267.5% in the fourth quarter. Covington Capital Management now owns 2,735 shares of the company’s stock worth $59,000 after acquiring an additional 2,535 shares during the last quarter. Finally, Edge Wealth Management LLC acquired a new stake in shares of Cars.com in the first quarter worth approximately $69,000.
A number of brokerages have recently issued reports on CARS. ValuEngine raised Cars.com from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised Cars.com from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Barrington Research reaffirmed a “buy” rating and issued a $37.50 price target on shares of Cars.com in a research note on Monday, May 6th. BTIG Research raised Cars.com from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 22nd. Finally, Goldman Sachs Group began coverage on Cars.com in a research note on Monday, March 18th. They issued a “neutral” rating and a $23.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.42.
Cars.com (NYSE:CARS) last released its quarterly earnings data on Friday, May 10th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The company had revenue of $154.20 million for the quarter, compared to analyst estimates of $152.29 million. Cars.com had a return on equity of 7.34% and a net margin of 4.40%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. Research analysts anticipate that Cars.com Inc. will post 1.52 EPS for the current fiscal year.
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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.
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