Nordea Investment Management AB Increases Stake in Cars.com Inc. $CARS

Nordea Investment Management AB raised its holdings in shares of Cars.com Inc. (NYSE:CARS) by 33.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 557,299 shares of the company’s stock after buying an additional 140,493 shares during the period. Nordea Investment Management AB owned about 0.88% of Cars.com worth $6,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock worth $61,000 after purchasing an additional 1,010 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Cars.com by 4.4% in the second quarter. State of Alaska Department of Revenue now owns 34,468 shares of the company’s stock worth $408,000 after purchasing an additional 1,466 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Cars.com by 16.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,838 shares of the company’s stock worth $133,000 after purchasing an additional 1,710 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Cars.com by 6.7% in the second quarter. Inspire Investing LLC now owns 32,569 shares of the company’s stock worth $386,000 after purchasing an additional 2,050 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Cars.com by 119.9% in the second quarter. CWM LLC now owns 4,227 shares of the company’s stock worth $50,000 after purchasing an additional 2,305 shares in the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARS has been the subject of a number of analyst reports. UBS Group increased their price objective on shares of Cars.com from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. upped their target price on shares of Cars.com from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Thursday, August 21st. Zacks Research lowered shares of Cars.com from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cars.com currently has a consensus rating of “Moderate Buy” and an average price target of $17.90.

Insider Buying and Selling

In related news, insider Matthew B. Crawford sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.77, for a total value of $176,550.00. Following the transaction, the insider owned 98,461 shares of the company’s stock, valued at $1,158,885.97. This trade represents a 13.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.12% of the stock is owned by corporate insiders.

Cars.com Price Performance

Cars.com stock opened at $10.54 on Tuesday. The firm has a 50-day moving average price of $12.46 and a 200-day moving average price of $11.86. The firm has a market capitalization of $647.27 million, a PE ratio of 16.99 and a beta of 1.76. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.94. Cars.com Inc. has a 12-month low of $9.56 and a 12-month high of $20.47.

Cars.com (NYSE:CARS) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $178.74 million during the quarter, compared to the consensus estimate of $179.43 million. Cars.com had a return on equity of 17.43% and a net margin of 5.71%.Cars.com’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. As a group, equities research analysts forecast that Cars.com Inc. will post 1.19 EPS for the current year.

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.