Envestnet Portfolio Solutions Inc. Makes New $186,000 Investment in Cars.com Inc. (NYSE:CARS)

Envestnet Portfolio Solutions Inc. purchased a new stake in Cars.com Inc. (NYSE:CARS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,756 shares of the company’s stock, valued at approximately $186,000.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Cars.com by 193.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock worth $29,000 after acquiring an additional 1,079 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Cars.com by 145.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after purchasing an additional 1,864 shares during the period. KBC Group NV increased its position in shares of Cars.com by 68.2% during the 4th 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 last quarter. Parkside Financial Bank & Trust raised its holdings in Cars.com by 41.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock valued at $89,000 after buying an additional 1,516 shares during the period. Finally, Principal Securities Inc. lifted its position in Cars.com by 22.1% in the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company’s stock valued at $152,000 after buying an additional 1,592 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Price Performance

Cars.com stock opened at $11.30 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $14.93 and its 200 day simple moving average is $16.58. Cars.com Inc. has a 52 week low of $10.80 and a 52 week high of $21.24. The firm has a market capitalization of $721.41 million, a PE ratio of 19.48 and a beta of 2.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Cars.com from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a report on Tuesday, March 4th. Finally, DA Davidson decreased their price target on Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.90.

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.