First Eagle Investment Management LLC Grows Stock Holdings in Cars.com Inc. $CARS

First Eagle Investment Management LLC grew its position in Cars.com Inc. (NYSE:CARS) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 607,143 shares of the company’s stock after acquiring an additional 22,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Cars.com were worth $7,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Cars.com by 33.7% during the 2nd quarter. Nordea Investment Management AB now owns 557,299 shares of the company’s stock valued at $6,626,000 after purchasing an additional 140,493 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Cars.com by 13.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 398,000 shares of the company’s stock worth $4,485,000 after buying an additional 46,562 shares during the last quarter. Mackenzie Financial Corp increased its position in Cars.com by 59.2% during the 1st quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock valued at $618,000 after buying an additional 20,376 shares in the last quarter. Peregrine Capital Management LLC raised its stake in Cars.com by 10.9% in the second quarter. Peregrine Capital Management LLC now owns 321,989 shares of the company’s stock valued at $3,816,000 after buying an additional 31,548 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Cars.com by 71.3% in the first quarter. Cubist Systematic Strategies LLC now owns 102,416 shares of the company’s stock valued at $1,154,000 after buying an additional 42,641 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Price Performance

Shares of CARS opened at $11.14 on Friday. The business’s 50-day moving average is $11.90 and its two-hundred day moving average is $11.82. The company has a market capitalization of $684.19 million, a P/E ratio of 17.96 and a beta of 1.74. Cars.com Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $20.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.82 and a current ratio of 1.82.

Cars.com (NYSE:CARS) last posted its earnings results on Thursday, November 6th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The company had revenue of $181.57 million for the quarter, compared to analyst estimates of $181.37 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts predict that Cars.com Inc. will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CARS has been the subject of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a research report on Monday, November 3rd. Zacks Research lowered shares of Cars.com from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Cars.com in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Wall Street Zen downgraded Cars.com from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.90.

Cars.com Company Profile

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.