Kesler Norman & Wride LLC Cuts Stock Holdings in Cars.com Inc. (NYSE:CARS)

Kesler Norman & Wride LLC decreased its holdings in shares of Cars.com Inc. (NYSE:CARS) by 11.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,149 shares of the company’s stock after selling 3,114 shares during the period. Kesler Norman & Wride LLC’s holdings in Cars.com were worth $388,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Greenvale Capital LLP increased its position in Cars.com by 2.0% during the 4th quarter. Greenvale Capital LLP now owns 4,628,403 shares of the company’s stock valued at $87,801,000 after purchasing an additional 90,222 shares during the period. Price T Rowe Associates Inc. MD increased its position in 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 valued at $757,000 after purchasing an additional 2,692 shares during the period. American Century Companies Inc. increased its position in Cars.com by 19.4% during the 2nd quarter. American Century Companies Inc. now owns 1,078,757 shares of the company’s stock valued at $21,252,000 after purchasing an additional 175,094 shares during the period. Vanguard Group Inc. increased its position in Cars.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after purchasing an additional 81,645 shares during the period. Finally, 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 buying an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Stock Up 3.1 %

CARS stock opened at $15.76 on Wednesday. The firm has a 50 day moving average of $17.57 and a 200 day moving average of $18.12. The stock has a market capitalization of $1.04 billion, a PE ratio of 10.04 and a beta of 2.11. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. Cars.com Inc. has a 52 week low of $14.82 and a 52 week high of $21.24.

Cars.com (NYSE:CARS) last released 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 during the quarter, compared to analyst estimates of $181.51 million. Cars.com had a return on equity of 6.70% and a net margin of 3.51%. Sell-side analysts forecast that Cars.com Inc. will post 1.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas Alex Vetter sold 17,674 shares of Cars.com 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 completion of the sale, the chief executive officer now directly owns 598,934 shares in the company, valued at $11,517,500.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.12% of the stock is owned by company insiders.

Analyst Ratings Changes

CARS has been the topic of a number of recent analyst reports. B. Riley lowered their price target on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 9th. UBS Group lowered their price target on shares of Cars.com from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. cut shares of Cars.com from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $19.00 in a report on Friday, August 9th.

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.