Starboard Value LP Owns 7% Stake in Cars.com Inc (CARS)

Starboard Value LP

recently revealed that they own 7% of Cars.com Inc (NYSE:CARS) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Thursday, January 11th. The investor owns 4,975,000 shares of the stock worth approximately $155,419,000. The reporting parties listed on the disclosure included Starboard Value LP, Starboard Value And Opportunity Master Fund Ltd, Starboard Value And Opportunity S LLC, Starboard Value And Opportunity C LP, Starboard Value R LP, Starboard Value R Gp LLC, Starboard Value Gp LLC, Starboard Principal Co LP, Starboard Principal Co Gp LLC, Jeffrey C Smith, Mark R Mitchell and Peter A Feld. The disclosure is available through the SEC website at this link.

Several other hedge funds have also added to or reduced their stakes in the company. Commonwealth Bank of Australia bought a new position in shares of Cars.com during the 2nd quarter valued at approximately $170,000. Quantbot Technologies LP bought a new position in shares of Cars.com during the 2nd quarter valued at approximately $172,000. Public Sector Pension investment Board bought a new position in shares of Cars.com during the 2nd quarter valued at approximately $208,000. Crossmark Global Holdings Inc. bought a new position in shares of Cars.com during the 3rd quarter valued at approximately $212,000. Finally, Meridian Investment Counsel Inc. bought a new position in shares of Cars.com during the 2nd quarter valued at approximately $214,000.

Shares of Cars.com Inc (NYSE:CARS) traded up $0.06 during trading hours on Thursday, reaching $31.24. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2,240.00 and a price-to-earnings ratio of 18.38. Cars.com Inc has a 52-week low of $19.90 and a 52-week high of $32.28.

Several equities analysts have weighed in on the company. B. Riley assumed coverage on Cars.com in a report on Wednesday, September 27th. They set a “buy” rating and a $36.00 price objective for the company. Zacks Investment Research raised Cars.com from a “sell” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday. ValuEngine lowered Cars.com from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Barrington Research increased their price target on Cars.com from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $35.50.

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About Cars.com

Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.

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Institutional Ownership by Quarter for Cars.com (NYSE:CARS)

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