State of Alaska Department of Revenue Cuts Position in Cars.com Inc. (NYSE:CARS)

State of Alaska Department of Revenue lessened its holdings in Cars.com Inc. (NYSE:CARS) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,850 shares of the company’s stock after selling 811 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Cars.com worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Advisors Asset Management Inc. grew its stake in Cars.com by 145.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock valued at $53,000 after buying an additional 1,864 shares in the last quarter. CWM LLC increased its holdings in Cars.com by 62.4% during the 3rd quarter. CWM LLC now owns 3,569 shares of the company’s stock worth $60,000 after acquiring an additional 1,372 shares during the period. KBC Group NV increased its holdings in shares of Cars.com by 68.2% in the fourth quarter. KBC Group NV now owns 3,885 shares of the company’s stock worth $67,000 after purchasing an additional 1,575 shares during the period. MQS Management LLC purchased a new stake in shares of Cars.com in the third quarter worth $171,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Cars.com during the third quarter worth about $191,000. Institutional investors own 89.15% of the company’s stock.

Cars.com Price Performance

CARS opened at $17.55 on Friday. The stock’s 50 day moving average price is $17.72 and its 200-day moving average price is $17.62. Cars.com Inc. has a 52-week low of $15.05 and a 52-week high of $21.24. The stock has a market capitalization of $1.14 billion, a PE ratio of 30.26 and a beta of 2.15. 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 Cars.com news, Director Jill A. Greenthal sold 4,524 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total value of $89,846.64. Following the sale, the director now owns 101,963 shares in the company, valued at approximately $2,024,985.18. This represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sonia Jain sold 24,971 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 $4,524,980.46. This represents a 9.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.12% of the company’s stock.

Analysts Set New Price Targets

CARS has been the subject of several recent analyst reports. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, UBS Group boosted 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 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.