William Blair Investment Management LLC raised its stake in Cars.com Inc. (NYSE:CARS) by 7.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 503,088 shares of the company’s stock after purchasing an additional 34,005 shares during the quarter. William Blair Investment Management LLC owned 0.73% of Cars.com worth $13,890,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC bought a new position in shares of Cars.com during the third quarter valued at approximately $325,000. Stevens Capital Management LP bought a new position in shares of Cars.com during the third quarter valued at approximately $341,000. Franklin Resources Inc. bought a new position in shares of Cars.com during the third quarter valued at approximately $497,000. Bridgeway Capital Management Inc. raised its holdings in shares of Cars.com by 72.2% during the third quarter. Bridgeway Capital Management Inc. now owns 155,000 shares of the company’s stock valued at $4,280,000 after acquiring an additional 65,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cars.com by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 5,341,349 shares of the company’s stock valued at $147,475,000 after acquiring an additional 822,127 shares in the last quarter.
A number of equities analysts recently commented on CARS shares. Benchmark restated a “hold” rating on shares of Cars.com in a report on Thursday, August 9th. ValuEngine downgraded Cars.com from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Barrington Research restated a “buy” rating on shares of Cars.com in a report on Thursday, October 4th. Zacks Investment Research upgraded Cars.com from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, BTIG Research initiated coverage on Cars.com in a report on Tuesday, November 13th. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $37.13.
Shares of CARS stock opened at $24.59 on Thursday. The firm has a market capitalization of $1.69 billion, a P/E ratio of 10.79, a PEG ratio of 2.66 and a beta of 0.21. Cars.com Inc. has a twelve month low of $23.77 and a twelve month high of $32.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.
Cars.com (NYSE:CARS) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $168.04 million. Cars.com had a return on equity of 7.77% and a net margin of 27.69%. Cars.com’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, equities analysts anticipate that Cars.com Inc. will post 1.85 earnings per share for the current fiscal year.
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Cars.com Company Profile
Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.
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