TrueCar, Inc. (NASDAQ:TRUE) Position Increased by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp increased its position in shares of TrueCar, Inc. (NASDAQ:TRUE) by 25.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 125,000 shares of the technology company’s stock after buying an additional 25,000 shares during the quarter. Noesis Capital Mangement Corp’s holdings in TrueCar were worth $466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRUE. Assenagon Asset Management S.A. raised its holdings in shares of TrueCar by 151.1% during the third quarter. Assenagon Asset Management S.A. now owns 168,600 shares of the technology company’s stock worth $582,000 after acquiring an additional 101,459 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TrueCar during the third quarter worth $43,000. Intech Investment Management LLC purchased a new stake in shares of TrueCar during the third quarter worth $36,000. FMR LLC raised its holdings in shares of TrueCar by 23.7% during the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock worth $1,313,000 after acquiring an additional 73,041 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of TrueCar by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after acquiring an additional 8,027 shares in the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

TrueCar Stock Performance

TrueCar stock opened at $2.33 on Friday. The business’s 50-day simple moving average is $3.35 and its 200-day simple moving average is $3.53. The firm has a market capitalization of $203.31 million, a PE ratio of -6.85 and a beta of 1.75. TrueCar, Inc. has a 52 week low of $2.16 and a 52 week high of $4.62.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. Research analysts forecast that TrueCar, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday, February 21st. Needham & Company LLC cut their target price on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, B. Riley raised their target price on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.63.

TrueCar Profile

TrueCar, Inc 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. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.