Texas Permanent School Fund Corp Sells 7,805 Shares of Cars.com Inc. (NYSE:CARS)

Texas Permanent School Fund Corp cut its stake in Cars.com Inc. (NYSE:CARS) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,101 shares of the company’s stock after selling 7,805 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Cars.com worth $908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Cars.com by 25.0% in the 1st quarter. Boston Partners now owns 2,153,942 shares of the company’s stock worth $36,972,000 after acquiring an additional 430,654 shares during the last quarter. First Eagle Investment Management LLC raised its position in Cars.com by 94.2% in the 1st quarter. First Eagle Investment Management LLC now owns 425,643 shares of the company’s stock worth $7,313,000 after purchasing an additional 206,415 shares during the period. Russell Investments Group Ltd. lifted its stake in Cars.com by 50.3% in the first quarter. Russell Investments Group Ltd. now owns 615,408 shares of the company’s stock worth $10,573,000 after purchasing an additional 205,871 shares during the last quarter. Greenvale Capital LLP boosted its position in shares of Cars.com by 2.0% during the fourth quarter. Greenvale Capital LLP now owns 4,628,403 shares of the company’s stock valued at $87,801,000 after buying an additional 90,222 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Cars.com by 1.1% during the first quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after buying an additional 81,645 shares during the period. 89.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $339,871.02. Following the transaction, the chief executive officer now directly owns 598,934 shares of the company’s stock, valued at $11,517,500.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.12% of the stock is owned by company insiders.

Cars.com Stock Down 1.9 %

Shares of NYSE CARS opened at $17.97 on Friday. The stock has a 50 day moving average price of $18.23 and a 200 day moving average price of $18.19. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.45 and a beta of 2.11. Cars.com Inc. has a 52-week low of $14.82 and a 52-week high of $21.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.53 and a current ratio of 1.53.

Cars.com (NYSE:CARS) last issued its earnings results on Thursday, August 8th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). The firm had revenue of $178.89 million during the quarter, compared to analysts’ expectations of $181.51 million. Cars.com had a return on equity of 6.70% and a net margin of 3.51%. Sell-side analysts expect that Cars.com Inc. will post 1.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Friday, August 23rd. UBS Group reduced their target price on Cars.com from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered shares of Cars.com from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $19.00 in a research note on Friday, August 9th. Finally, B. Riley reduced their price target on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Cars.com Company 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.