Lido Advisors LLC Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Lido Advisors LLC bought a new stake in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,554 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CARG. Vanguard Group Inc. raised its position in CarGurus by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company’s stock valued at $353,959,000 after purchasing an additional 225,430 shares during the period. Wellington Management Group LLP raised its holdings in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock valued at $261,091,000 after buying an additional 802,602 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after acquiring an additional 957,035 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock worth $39,237,000 after acquiring an additional 30,593 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in CarGurus by 35.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company’s stock valued at $34,603,000 after acquiring an additional 245,919 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

CARG has been the topic of a number of recent research reports. Oppenheimer reduced their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. JMP Securities reduced their price target on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Finally, UBS Group dropped their price objective on CarGurus from $36.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.14.

CarGurus Price Performance

Shares of CARG opened at $27.95 on Wednesday. The stock has a market capitalization of $2.92 billion, a PE ratio of 155.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The business’s fifty day moving average price is $28.91 and its 200 day moving average price is $33.79. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. As a group, research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the sale, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,824 shares of company stock valued at $907,856. 17.20% of the stock is currently owned by insiders.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.