The Manufacturers Life Insurance Company Buys New Holdings in CarGurus Inc (NASDAQ:CARG)

The Manufacturers Life Insurance Company purchased a new stake in shares of CarGurus Inc (NASDAQ:CARG) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,342,616 shares of the company’s stock, valued at approximately $100,212,000. The Manufacturers Life Insurance Company owned 3.15% of CarGurus at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CARG. Quantitative Systematic Strategies LLC purchased a new stake in shares of CarGurus during the 4th quarter valued at $210,000. First Trust Advisors LP purchased a new stake in shares of CarGurus during the 4th quarter valued at $2,694,000. Bollard Group LLC purchased a new stake in shares of CarGurus during the 4th quarter valued at $318,223,000. Finally, Spinnaker Capital LLC purchased a new stake in shares of CarGurus during the 4th quarter valued at $410,972,000. Institutional investors own 36.26% of the company’s stock.

CarGurus Inc (NASDAQ:CARG) opened at $31.92 on Friday. CarGurus Inc has a 1 year low of $25.85 and a 1 year high of $36.81.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price objective (up previously from $33.00) on shares of CarGurus in a report on Wednesday, November 15th. Raymond James Financial started coverage on shares of CarGurus in a report on Monday, November 6th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of CarGurus from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, William Blair began coverage on shares of CarGurus in a research note on Monday, November 6th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. CarGurus currently has a consensus rating of “Hold” and a consensus target price of $31.00.

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CarGurus Profile

CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.

Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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