Federated Hermes Inc. Acquires 48,177 Shares of CarGurus, Inc. $CARG

Federated Hermes Inc. raised its stake in CarGurus, Inc. (NASDAQ:CARG) by 11.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 465,978 shares of the company’s stock after acquiring an additional 48,177 shares during the quarter. Federated Hermes Inc. owned approximately 0.47% of CarGurus worth $17,348,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CarGurus during the 2nd quarter worth approximately $27,000. Private Wealth Asset Management LLC bought a new stake in shares of CarGurus during the second quarter worth $29,000. Farther Finance Advisors LLC increased its holdings in shares of CarGurus by 71.1% during the third quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock worth $40,000 after buying an additional 443 shares in the last quarter. MAI Capital Management increased its holdings in shares of CarGurus by 661.0% during the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after buying an additional 1,018 shares in the last quarter. Finally, First Horizon Corp bought a new position in shares of CarGurus in the 3rd quarter valued at $51,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CARG has been the subject of a number of recent research reports. Jefferies Financial Group upped their target price on CarGurus from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CarGurus in a research note on Monday, December 29th. DA Davidson set a $37.50 target price on shares of CarGurus in a research report on Monday, November 17th. Citigroup boosted their target price on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.86.

CarGurus Stock Performance

NASDAQ:CARG opened at $32.40 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of 22.04, a P/E/G ratio of 1.35 and a beta of 1.36. The company has a 50 day simple moving average of $36.55 and a two-hundred day simple moving average of $35.29. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $40.69.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The company had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. CarGurus’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. Research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other news, insider Ismail Elshareef sold 1,228 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $42,955.44. Following the completion of the sale, the insider directly owned 95,907 shares in the company, valued at $3,354,826.86. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Ladd Hanson sold 2,358 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.10, for a total value of $89,839.80. Following the completion of the transaction, the insider owned 50,466 shares in the company, valued at approximately $1,922,754.60. The trade was a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,586 shares of company stock worth $2,198,264 over the last three months. 16.99% of the stock is currently owned by company insiders.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.