Rhumbline Advisers Increases Position in Cars.com Inc. (NYSE:CARS)

Rhumbline Advisers raised its position in shares of Cars.com Inc. (NYSE:CARS) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,507 shares of the company’s stock after buying an additional 11,900 shares during the period. Rhumbline Advisers owned about 0.29% of Cars.com worth $3,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CARS. Greenvale Capital LLP increased its stake in shares of Cars.com by 2.0% during the fourth quarter. Greenvale Capital LLP now owns 4,628,403 shares of the company’s stock worth $87,801,000 after buying an additional 90,222 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Cars.com by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,013 shares of the company’s stock worth $757,000 after buying an additional 2,692 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cars.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after buying an additional 81,645 shares in the last quarter. Boulder Hill Capital Management LP purchased a new position in shares of Cars.com during the fourth quarter worth about $197,000. Finally, Quest Partners LLC purchased a new stake in shares of Cars.com in the 4th quarter valued at about $343,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on CARS shares. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Friday, August 23rd. B. Riley reduced their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered Cars.com from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $25.00 to $19.00 in a report on Friday, August 9th. Finally, UBS Group decreased their price target on Cars.com from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

Cars.com Price Performance

Cars.com stock opened at $17.74 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. The firm’s 50-day simple moving average is $18.28 and its 200 day simple moving average is $18.20. Cars.com Inc. has a 52 week low of $14.82 and a 52 week high of $21.24. The firm has a market capitalization of $1.17 billion, a PE ratio of 11.30 and a beta of 2.11.

Cars.com (NYSE:CARS) last announced its earnings results on Thursday, August 8th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The company had revenue of $178.89 million for the quarter, compared to analyst estimates of $181.51 million. Cars.com had a net margin of 3.51% and a return on equity of 6.70%. On average, equities research analysts predict that Cars.com Inc. will post 1.22 EPS for the current fiscal year.

Insider Activity at Cars.com

In other news, CEO Thomas Alex Vetter sold 17,674 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $19.23, for a total transaction of $339,871.02. Following the sale, the chief executive officer now owns 598,934 shares in the company, valued at $11,517,500.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.12% of the company’s stock.

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.