Noesis Capital Mangement Corp Takes Position in TrueCar, Inc. $TRUE

Noesis Capital Mangement Corp acquired a new position in TrueCar, Inc. (NASDAQ:TRUE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 125,000 shares of the technology company’s stock, valued at approximately $238,000. Noesis Capital Mangement Corp owned 0.14% of TrueCar at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in TrueCar by 22.2% in the 1st quarter. Acadian Asset Management LLC now owns 2,753,300 shares of the technology company’s stock worth $4,346,000 after purchasing an additional 500,804 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of TrueCar by 8.0% during the first quarter. Russell Investments Group Ltd. now owns 747,593 shares of the technology company’s stock valued at $1,181,000 after purchasing an additional 55,088 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of TrueCar by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 387,829 shares of the technology company’s stock worth $613,000 after purchasing an additional 16,822 shares during the last quarter. Nuveen LLC bought a new position in shares of TrueCar in the first quarter worth approximately $399,000. Finally, American Century Companies Inc. grew its holdings in shares of TrueCar by 8.4% in the first quarter. American Century Companies Inc. now owns 160,127 shares of the technology company’s stock worth $253,000 after purchasing an additional 12,344 shares during the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

TrueCar Price Performance

NASDAQ TRUE opened at $2.28 on Thursday. The stock has a market capitalization of $201.64 million, a PE ratio of -6.71 and a beta of 2.00. TrueCar, Inc. has a 1 year low of $1.05 and a 1 year high of $4.62. The business’s 50-day moving average is $2.09 and its 200 day moving average is $1.82.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRUE. Needham & Company LLC restated a “hold” rating on shares of TrueCar in a report on Tuesday, October 7th. BTIG Research cut shares of TrueCar from a “buy” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. upgraded shares of TrueCar from an “underweight” rating to a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueCar in a research note on Wednesday, October 8th. Finally, Lake Street Capital raised their target price on TrueCar from $2.00 to $2.55 and gave the stock a “hold” rating in a research note on Thursday, October 16th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $3.10.

TrueCar Company Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.