TrueCar Inc (NASDAQ:TRUE) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 9,583,325 shares, a drop of 12.8% from the February 15th total of 10,988,079 shares. Based on an average daily volume of 3,263,437 shares, the short-interest ratio is presently 2.9 days.
In other news, SVP John Pierantoni sold 2,494 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 in the company, valued at $649,321.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 5,227 shares of company stock worth $59,857. 15.50% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of TRUE. SG Americas Securities LLC acquired a new stake in TrueCar during the third quarter worth approximately $104,000. Massey Quick Simon & CO. LLC acquired a new stake in TrueCar during the third quarter worth approximately $119,000. Xact Kapitalforvaltning AB acquired a new stake in shares of TrueCar in the 4th quarter valued at $132,000. Global Endowment Management LP acquired a new stake in shares of TrueCar in the 4th quarter valued at $133,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of TrueCar in the 4th quarter valued at $190,000. 89.04% of the stock is currently owned by institutional investors and hedge funds.
TRUE has been the topic of a number of recent research reports. Stephens set a $18.00 target price on TrueCar and gave the stock a “buy” rating in a research note on Friday, February 16th. B. Riley reiterated a “buy” rating and set a $18.00 target price on shares of TrueCar in a research note on Wednesday, January 24th. Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, ValuEngine lowered TrueCar from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.56.
Shares of TrueCar stock opened at $10.80 on Monday. The stock has a market capitalization of $1,086.04, a P/E ratio of -30.86 and a beta of 2.52. TrueCar has a 12-month low of $10.16 and a 12-month high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.41 and a current ratio of 6.41.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. The business had revenue of $83.13 million for the quarter, compared to the consensus estimate of $81.72 million. TrueCar had a negative return on equity of 8.70% and a negative net margin of 10.16%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. analysts forecast that TrueCar will post -0.25 EPS for the current fiscal year.
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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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