CarGurus Inc (NASDAQ:CARG) Shares Acquired by Morgan Stanley

Morgan Stanley boosted its holdings in CarGurus Inc (NASDAQ:CARG) by 181.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,125,727 shares of the company’s stock after purchasing an additional 725,384 shares during the quarter. Morgan Stanley owned about 1.00% of CarGurus worth $21,322,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Trust Advisors LP raised its stake in CarGurus by 24.4% during the 1st quarter. First Trust Advisors LP now owns 92,854 shares of the company’s stock valued at $3,720,000 after acquiring an additional 18,225 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of CarGurus during the first quarter worth approximately $296,000. Victory Capital Management Inc. raised its stake in shares of CarGurus by 47.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,070 shares of the company’s stock worth $73,000 after purchasing an additional 668 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CarGurus by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,528 shares of the company’s stock worth $16,624,000 after purchasing an additional 10,992 shares during the period. Finally, Rafferty Asset Management LLC acquired a new position in CarGurus in the 4th quarter valued at $306,000. Hedge funds and other institutional investors own 78.00% of the company’s stock.

In related news, CEO Langley Steinert sold 51,970 shares of CarGurus stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $27.05, for a total transaction of $1,405,788.50. Following the completion of the sale, the chief executive officer now owns 1,253,064 shares in the company, valued at approximately $33,895,381.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 507,431 shares of company stock worth $12,759,221. Corporate insiders own 24.43% of the company’s stock.

CARG has been the subject of several analyst reports. JMP Securities increased their price target on shares of CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Benchmark dropped their price objective on CarGurus from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup downgraded CarGurus from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Monday, May 11th. SunTrust Banks upped their price target on shares of CarGurus from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Zacks Investment Research upgraded shares of CarGurus from a “sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CarGurus currently has an average rating of “Buy” and a consensus price target of $30.56.

Shares of CARG opened at $24.50 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.60 and a quick ratio of 3.60. CarGurus Inc has a 1-year low of $14.25 and a 1-year high of $40.91. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 66.22, a price-to-earnings-growth ratio of 6.64 and a beta of 2.03. The firm has a 50 day simple moving average of $25.52 and a 200-day simple moving average of $27.14.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. CarGurus had a return on equity of 16.97% and a net margin of 6.91%. The firm had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $150.06 million. During the same quarter in the prior year, the firm earned $0.12 EPS. CarGurus’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that CarGurus Inc will post 0.1 earnings per share for the current fiscal year.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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