Federated Hermes Inc. Buys 48,177 Shares of CarGurus, Inc. $CARG

Federated Hermes Inc. grew its position in CarGurus, Inc. (NASDAQ:CARG) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 465,978 shares of the company’s stock after purchasing an additional 48,177 shares during the period. Federated Hermes Inc.’s holdings in CarGurus were worth $17,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of CarGurus by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock valued at $64,093,000 after purchasing an additional 6,676 shares during the last quarter. Congress Asset Management Co. purchased a new position in CarGurus in the 3rd quarter valued at approximately $70,856,000. Invesco Ltd. grew its position in shares of CarGurus by 6.9% in the second quarter. Invesco Ltd. now owns 1,717,321 shares of the company’s stock valued at $57,479,000 after purchasing an additional 110,452 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in CarGurus by 22.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,699,910 shares of the company’s stock valued at $56,896,000 after buying an additional 311,287 shares in the last quarter. Finally, Boston Partners boosted its position in shares of CarGurus by 26.2% in the second quarter. Boston Partners now owns 1,109,048 shares of the company’s stock valued at $36,845,000 after acquiring an additional 230,492 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARG has been the subject of a number of research analyst reports. Zacks Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. BTIG Research raised their target price on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. increased their target price on CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. UBS Group increased their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Wall Street Zen lowered CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.86.

Insider Buying and Selling at CarGurus

In other news, insider Ismail Elshareef sold 1,228 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.98, for a total transaction of $42,955.44. Following the completion of the sale, the insider owned 95,907 shares of the company’s stock, valued at $3,354,826.86. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Ladd Hanson sold 2,358 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $38.10, for a total value of $89,839.80. Following the sale, the insider directly owned 50,466 shares of the company’s stock, valued at $1,922,754.60. This represents a 4.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 58,586 shares of company stock worth $2,198,264. 16.99% of the stock is owned by insiders.

CarGurus Trading Down 1.8%

Shares of CARG stock opened at $32.40 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.35 and a beta of 1.36. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $40.69. The firm’s 50 day moving average is $36.55 and its 200 day moving average is $35.29.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.CarGurus’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. As a group, equities analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.