Victory Capital Management Inc. Raises Stock Holdings in Cars.com Inc. (NYSE:CARS)

Victory Capital Management Inc. grew its stake in Cars.com Inc. (NYSE:CARS) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,823 shares of the company’s stock after buying an additional 12,479 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Cars.com worth $1,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in Cars.com by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 834,851 shares of the company’s stock worth $14,468,000 after buying an additional 30,368 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Cars.com by 193.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock worth $29,000 after purchasing an additional 1,079 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Cars.com by 41.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock valued at $89,000 after purchasing an additional 1,516 shares during the period. Versor Investments LP lifted its holdings in Cars.com by 59.3% in the 4th quarter. Versor Investments LP now owns 43,327 shares of the company’s stock worth $751,000 after purchasing an additional 16,127 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in Cars.com by 9.0% in the 4th quarter. Truist Financial Corp now owns 53,381 shares of the company’s stock worth $925,000 after purchasing an additional 4,387 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CARS. JPMorgan Chase & Co. dropped 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. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Tuesday, March 4th. Finally, DA Davidson dropped their target price on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Cars.com Trading Down 0.7 %

Shares of CARS opened at $11.41 on Friday. Cars.com Inc. has a twelve month low of $10.80 and a twelve month high of $21.24. The company has a market cap of $728.18 million, a P/E ratio of 19.66 and a beta of 2.16. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $15.58 and its 200-day simple moving average is $16.81.

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.