TrueCar (TRUE) Shares Gap Down to $11.91

TrueCar Inc (NASDAQ:TRUE) gapped down before the market opened on Monday . The stock had previously closed at $12.46, but opened at $11.91. TrueCar shares last traded at $11.18, with a volume of 8454100 shares changing hands.

TRUE has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating and set a $18.00 price objective (down from $21.00) on shares of TrueCar in a report on Tuesday, October 31st. Royal Bank of Canada dropped their price objective on shares of TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, November 7th. ValuEngine lowered shares of TrueCar from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, Stephens set a $18.00 price objective on shares of TrueCar and gave the company a “buy” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.56.

The company has a market capitalization of $1,170.00, a PE ratio of -33.46 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $81.72 million. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.96%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. analysts anticipate that TrueCar Inc will post -0.21 earnings per share for the current fiscal year.

In related news, EVP Neeraj Gunsagar sold 10,443 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the transaction, the executive vice president now directly owns 254,144 shares in the company, valued at $2,866,744.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Pierantoni sold 2,494 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total transaction of $28,157.26. Following the transaction, the senior vice president now owns 57,513 shares of the company’s stock, valued at $649,321.77. The disclosure for this sale can be found here. Insiders have sold 15,670 shares of company stock valued at $177,654 over the last 90 days. 15.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Caledonia Private Investments Pty Ltd lifted its position in TrueCar by 1.4% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 16,474,191 shares of the technology company’s stock valued at $184,511,000 after purchasing an additional 233,433 shares during the period. Senvest Management LLC lifted its position in TrueCar by 72.6% during the fourth quarter. Senvest Management LLC now owns 6,859,792 shares of the technology company’s stock valued at $76,830,000 after purchasing an additional 2,884,407 shares during the period. Vanguard Group Inc. lifted its position in TrueCar by 43.9% during the second quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after purchasing an additional 2,004,642 shares during the period. Ontario Teachers Pension Plan Board lifted its position in TrueCar by 63.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 4,500,000 shares of the technology company’s stock valued at $50,400,000 after purchasing an additional 1,750,000 shares during the period. Finally, BlackRock Inc. raised its position in shares of TrueCar by 2.1% in the fourth quarter. BlackRock Inc. now owns 4,453,802 shares of the technology company’s stock worth $49,882,000 after acquiring an additional 93,523 shares during the period. Institutional investors own 94.72% of the company’s stock.

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TrueCar Company Profile

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.

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