Michael Joseph Kelly Acquires 2,500 Shares of Cars.com Inc. (NYSE:CARS) Stock

Cars.com Inc. (NYSE:CARS) Director Michael Joseph Kelly purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $9.94 per share, with a total value of $24,850.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

CARS stock traded down $0.29 during trading on Wednesday, hitting $10.11. The stock had a trading volume of 3,580,179 shares, compared to its average volume of 806,296. The company has a 50 day moving average price of $20.07. Cars.com Inc. has a 1-year low of $9.86 and a 1-year high of $29.54. The company has a market capitalization of $1.20 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.17.

Cars.com (NYSE:CARS) last announced its earnings results on Monday, August 5th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.08). Cars.com had a net margin of 4.40% and a return on equity of 7.34%. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $160.18 million. During the same period in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, analysts predict that Cars.com Inc. will post 1.52 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Cars.com by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,803,943 shares of the company’s stock valued at $124,785,000 after purchasing an additional 462,594 shares during the last quarter. Sapience Investments LLC raised its stake in Cars.com by 134.5% in the 1st quarter. Sapience Investments LLC now owns 1,375,630 shares of the company’s stock valued at $31,364,000 after purchasing an additional 788,980 shares during the last quarter. FMR LLC raised its stake in Cars.com by 26.7% in the 1st quarter. FMR LLC now owns 1,052,622 shares of the company’s stock valued at $24,000,000 after purchasing an additional 222,027 shares during the last quarter. Norges Bank acquired a new position in Cars.com in the 4th quarter valued at about $20,127,000. Finally, Geode Capital Management LLC raised its stake in Cars.com by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 708,015 shares of the company’s stock valued at $15,222,000 after purchasing an additional 43,129 shares during the last quarter.

Several research analysts have recently issued reports on the company. B. Riley cut their price target on Cars.com from $31.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. DA Davidson downgraded Cars.com from a “buy” rating to a “neutral” rating in a research note on Tuesday. Barrington Research downgraded Cars.com from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Zacks Investment Research downgraded Cars.com from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, TheStreet downgraded Cars.com from a “c” rating to a “d” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $24.31.

About Cars.com

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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