Hillsdale Investment Management Inc. Boosts Holdings in CarGurus, Inc. $CARG

Hillsdale Investment Management Inc. raised its stake in CarGurus, Inc. (NASDAQ:CARG) by 32.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,250 shares of the company’s stock after acquiring an additional 45,200 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in CarGurus were worth $6,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of CarGurus in the 2nd quarter worth approximately $27,000. Private Wealth Asset Management LLC bought a new stake in shares of CarGurus in the second quarter valued at $29,000. Fifth Third Bancorp lifted its position in shares of CarGurus by 121.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock valued at $47,000 after buying an additional 779 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of CarGurus during the 1st quarter valued at $46,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of CarGurus by 30.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,023 shares of the company’s stock worth $68,000 after acquiring an additional 475 shares during the period. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CARG shares. JPMorgan Chase & Co. boosted their price objective on CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of CarGurus in a research report on Wednesday, October 8th. Citigroup upped their price target on shares of CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Zacks Research lowered shares of CarGurus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Finally, UBS Group increased their target price on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.95.

CarGurus Price Performance

Shares of NASDAQ:CARG opened at $33.91 on Friday. The firm has a fifty day moving average price of $35.69 and a two-hundred day moving average price of $33.73. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.57 and a beta of 1.50. CarGurus, Inc. has a one year low of $24.65 and a one year high of $41.33.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The business had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $234.57 million. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS. Q4 2025 guidance at 0.610-0.670 EPS. Equities research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Transactions at CarGurus

In related news, insider Ismail Elshareef sold 1,228 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.98, for a total transaction of $42,955.44. Following the transaction, the insider directly owned 95,907 shares of the company’s stock, valued at approximately $3,354,826.86. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $36.08, for a total value of $360,800.00. Following the completion of the sale, the chief operating officer owned 441,821 shares of the company’s stock, valued at $15,940,901.68. The trade was a 2.21% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,226 shares of company stock worth $1,471,482. 16.99% of the stock is currently owned by corporate insiders.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.