Victory Capital Management Inc. Sells 11,018 Shares of Cars.com Inc. (NYSE:CARS)

Victory Capital Management Inc. lowered its position in shares of Cars.com Inc. (NYSE:CARS) by 35.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,068 shares of the company’s stock after selling 11,018 shares during the quarter. Victory Capital Management Inc.’s holdings in Cars.com were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Cars.com in the first quarter valued at $28,000. CWM LLC increased its position in shares of Cars.com by 253.2% in the second quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after acquiring an additional 1,575 shares during the last quarter. EntryPoint Capital LLC raised its holdings in Cars.com by 23.3% during the first quarter. EntryPoint Capital LLC now owns 10,173 shares of the company’s stock worth $175,000 after acquiring an additional 1,922 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Cars.com during the first quarter valued at approximately $177,000. Finally, Hancock Whitney Corp bought a new position in Cars.com in the first quarter valued at approximately $184,000. 89.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Cars.com Stock Performance

NYSE CARS opened at $17.70 on Tuesday. The stock has a market cap of $1.17 billion, a PE ratio of 11.27 and a beta of 2.11. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a 50-day moving average of $18.20 and a 200-day moving average of $18.19. Cars.com Inc. has a 52-week low of $14.82 and a 52-week high of $21.24.

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

Insiders Place Their Bets

In other news, CEO Thomas Alex Vetter sold 17,674 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $19.23, for a total value of $339,871.02. Following the completion of the sale, the chief executive officer now owns 598,934 shares of the company’s stock, valued at $11,517,500.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.12% of the company’s stock.

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.