Inspire Investing LLC Has $348,000 Stock Holdings in Cars.com Inc. (NYSE:CARS)

Inspire Investing LLC reduced its stake in shares of Cars.com Inc. (NYSE:CARS) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,665 shares of the company’s stock after selling 3,134 shares during the quarter. Inspire Investing LLC’s holdings in Cars.com were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its holdings in shares of Cars.com by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 53,906 shares of the company’s stock worth $926,000 after acquiring an additional 698 shares during the period. ProShare Advisors LLC raised its position in Cars.com by 7.5% during the first quarter. ProShare Advisors LLC now owns 13,307 shares of the company’s stock valued at $229,000 after purchasing an additional 925 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Cars.com by 0.3% during the first quarter. Lord Abbett & CO. LLC now owns 487,540 shares of the company’s stock worth $8,376,000 after purchasing an additional 1,427 shares during the last quarter. CWM LLC boosted its holdings in shares of Cars.com by 253.2% in the 2nd quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after purchasing an additional 1,575 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Cars.com by 8.7% in the 2nd quarter. TD Asset Management Inc now owns 19,900 shares of the company’s stock valued at $392,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 89.15% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

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

Cars.com Trading Down 1.2 %

CARS opened at $17.49 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.53. Cars.com Inc. has a fifty-two week low of $14.82 and a fifty-two week high of $21.24. The company’s 50 day moving average price is $18.15 and its two-hundred day moving average price is $18.18. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.14 and a beta of 2.11.

Cars.com (NYSE:CARS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). The business had revenue of $178.89 million during the quarter, compared to the consensus estimate of $181.51 million. Cars.com had a return on equity of 6.70% and a net margin of 3.51%. As a group, research analysts predict that Cars.com Inc. will post 1.22 earnings per share for the current 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.