Bank of New York Mellon Corp Sells 48,166 Shares of Cars.com Inc. (NYSE:CARS)

Bank of New York Mellon Corp lowered its stake in shares of Cars.com Inc. (NYSE:CARS) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 485,812 shares of the company’s stock after selling 48,166 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.75% of Cars.com worth $8,419,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its position in Cars.com by 9.0% during the fourth quarter. Truist Financial Corp now owns 53,381 shares of the company’s stock valued at $925,000 after buying an additional 4,387 shares during the period. Principal Financial Group Inc. boosted its position in Cars.com by 0.9% during the fourth quarter. Principal Financial Group Inc. now owns 289,182 shares of the company’s stock worth $5,012,000 after purchasing an additional 2,522 shares during the period. Principal Securities Inc. boosted its position in Cars.com by 22.1% during the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company’s stock worth $152,000 after purchasing an additional 1,592 shares during the period. Pacer Advisors Inc. boosted its position in Cars.com by 2.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,559,142 shares of the company’s stock worth $44,350,000 after purchasing an additional 65,210 shares during the period. Finally, KBC Group NV boosted its position in Cars.com by 68.2% during 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. Institutional investors own 89.15% of the company’s stock.

Cars.com Trading Up 2.0 %

Shares of Cars.com stock opened at $11.37 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 12-month low of $11.01 and a 12-month high of $21.24. The company has a market cap of $725.69 million, a price-to-earnings ratio of 19.60 and a beta of 2.16. The company’s 50-day moving average price is $16.03 and its 200-day moving average price is $16.99.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CARS. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut their target price on shares of Cars.com from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Finally, DA Davidson lowered their price target on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

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.