129,886 Shares in Cars.com Inc. $CARS Bought by Weiss Asset Management LP

Weiss Asset Management LP acquired a new position in Cars.com Inc. (NYSE:CARS) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 129,886 shares of the company’s stock, valued at approximately $1,055,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARS. Pale Fire Capital SE lifted its stake in shares of Cars.com by 498.1% in the first quarter. Pale Fire Capital SE now owns 3,956,618 shares of the company’s stock worth $32,128,000 after acquiring an additional 3,295,117 shares in the last quarter. Par Capital Management Inc. purchased a new position in Cars.com in the second quarter valued at about $14,220,000. Breach Inlet Capital Management LLC acquired a new stake in Cars.com during the 4th quarter valued at approximately $8,899,000. JPMorgan Chase & Co. grew its stake in Cars.com by 112.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,127,095 shares of the company’s stock valued at $13,751,000 after purchasing an additional 595,609 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Cars.com during the 2nd quarter worth approximately $3,776,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cars.com

In other news, CFO Sonia Jain sold 52,579 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $9.56, for a total transaction of $502,655.24. Following the completion of the transaction, the chief financial officer directly owned 346,854 shares in the company, valued at approximately $3,315,924.24. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.36% of the stock is owned by insiders.

Cars.com Stock Up 3.1%

Shares of Cars.com stock opened at $11.82 on Tuesday. The business has a 50-day moving average price of $10.49 and a 200 day moving average price of $10.31. Cars.com Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $13.97. The firm has a market cap of $660.61 million, a P/E ratio of 27.48 and a beta of 1.59. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.98.

Cars.com (NYSE:CARS) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Cars.com had a return on equity of 18.12% and a net margin of 3.73%.The business had revenue of $180.22 million during the quarter, compared to the consensus estimate of $180.16 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that Cars.com Inc. will post 1.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CARS shares. DA Davidson reaffirmed a “buy” rating and issued a $13.00 target price on shares of Cars.com in a research report on Monday, April 13th. B. Riley Financial downgraded shares of Cars.com from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Friday, May 8th. BTIG Research lifted their price target on shares of Cars.com from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Cars.com from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, UBS Group upped their price target on shares of Cars.com from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.67.

About Cars.com

Cars.com operates as a leading online automotive marketplace in the United States, connecting car shoppers with new and used vehicle listings from dealerships and private sellers. The platform enables consumers to research makes and models, compare prices, read expert and user reviews, and access tools such as TrueCost to estimate ownership expenses over time. Through its website and mobile applications, Cars.com aims to simplify the car-buying process by aggregating detailed vehicle data, payment calculators, and dealership ratings into a single user-friendly experience.

On the dealer side, Cars.com provides a suite of marketing and lead-generation services designed to help automotive retailers reach potential buyers and manage their online presence.