Fox Run Management L.L.C. bought a new position in TrueCar Inc (NASDAQ:TRUE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 18,852 shares of the technology company’s stock, valued at approximately $266,000.
Other large investors have also recently made changes to their positions in the company. Verition Fund Management LLC bought a new position in shares of TrueCar in the 1st quarter worth approximately $100,000. Amalgamated Bank bought a new position in shares of TrueCar in the 2nd quarter worth approximately $141,000. PEAK6 Investments L.P. bought a new position in shares of TrueCar in the 2nd quarter worth approximately $175,000. Jane Street Group LLC bought a new position in shares of TrueCar in the 1st quarter worth approximately $170,000. Finally, Sciencast Management LP bought a new position in shares of TrueCar in the 1st quarter worth approximately $273,000. 90.38% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Robert Mcclung sold 7,669 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total transaction of $103,608.19. Following the completion of the transaction, the executive vice president now owns 128,791 shares of the company’s stock, valued at approximately $1,739,966.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeff Swart sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $12.00, for a total value of $108,000.00. Following the transaction, the executive vice president now directly owns 103,366 shares of the company’s stock, valued at approximately $1,240,392. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,974 shares of company stock valued at $424,871. 5.60% of the stock is owned by corporate insiders.
TRUE stock opened at $11.97 on Friday. TrueCar Inc has a twelve month low of $8.75 and a twelve month high of $16.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.38 and a quick ratio of 6.38. The company has a market cap of $1.44 billion, a P/E ratio of -44.33 and a beta of 2.60.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, August 9th. The technology company reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. TrueCar had a negative return on equity of 8.42% and a negative net margin of 10.07%. The company had revenue of $87.85 million during the quarter, compared to analyst estimates of $87.81 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that TrueCar Inc will post -0.25 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised TrueCar from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday. ValuEngine raised TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, DA Davidson set a $13.00 target price on TrueCar and gave the stock a “hold” rating in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.57.
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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