Barclays PLC Grows Holdings in Cars.com Inc. (NYSE:CARS)

Barclays PLC boosted its holdings in Cars.com Inc. (NYSE:CARS) by 340.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,177 shares of the company’s stock after purchasing an additional 83,642 shares during the period. Barclays PLC owned about 0.17% of Cars.com worth $1,813,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Cars.com by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 596,327 shares of the company’s stock worth $11,748,000 after purchasing an additional 20,463 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Cars.com by 9,934.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,737 shares of the company’s stock valued at $212,000 after buying an additional 10,630 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of Cars.com in the second quarter worth approximately $242,000. Rhumbline Advisers boosted its holdings in shares of Cars.com by 6.6% during the second quarter. Rhumbline Advisers now owns 191,507 shares of the company’s stock worth $3,773,000 after purchasing an additional 11,900 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Cars.com by 8.7% during the second quarter. TD Asset Management Inc now owns 19,900 shares of the company’s stock valued at $392,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors own 89.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CARS has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a report on Wednesday, November 13th. Finally, UBS Group raised their target price on Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th.

Cars.com Price Performance

CARS stock opened at $17.36 on Friday. The company’s fifty day moving average price is $18.00 and its 200-day moving average price is $18.07. Cars.com Inc. has a one year low of $15.05 and a one year high of $21.24. The company has a market capitalization of $1.12 billion, a PE ratio of 29.93 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79.

Insider Transactions at Cars.com

In other news, Director Jill A. Greenthal sold 4,524 shares of Cars.com stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total value of $89,846.64. Following the completion of the transaction, the director now owns 101,963 shares in the company, valued at approximately $2,024,985.18. The trade was a 4.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sonia Jain sold 24,971 shares of Cars.com stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total transaction of $492,927.54. Following the transaction, the chief financial officer now directly owns 229,229 shares of the company’s stock, valued at approximately $4,524,980.46. This represents a 9.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.