VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 102,200 Cars.com Inc. $CARS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Cars.com Inc. (NYSE:CARS) in the second quarter, Holdings Channel reports. The institutional investor bought 102,200 shares of the company’s stock, valued at approximately $1,118,000.

Several other institutional investors have also modified their holdings of CARS. Pale Fire Capital SE boosted its position in shares of Cars.com by 498.1% during the 1st quarter. Pale Fire Capital SE now owns 3,956,618 shares of the company’s stock valued at $32,128,000 after acquiring an additional 3,295,117 shares during the last quarter. Par Capital Management Inc. acquired a new stake in Cars.com during the second quarter worth about $14,220,000. Breach Inlet Capital Management LLC purchased a new position in Cars.com during the fourth quarter worth about $8,899,000. JPMorgan Chase & Co. boosted its holdings in Cars.com by 112.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,127,095 shares of the company’s stock valued at $13,751,000 after purchasing an additional 595,609 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Cars.com by 1,132.2% in the 2nd quarter. California State Teachers Retirement System now owns 619,718 shares of the company’s stock valued at $6,780,000 after purchasing an additional 569,424 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Donald McGovern sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $12.25, for a total transaction of $98,000.00. Following the completion of the transaction, the director owned 102,900 shares of the company’s stock, valued at approximately $1,260,525. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angelique Marks sold 57,980 shares of Cars.com stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $11.94, for a total transaction of $692,281.20. Following the completion of the sale, the insider owned 149,636 shares of the company’s stock, valued at $1,786,653.84. This trade represents a 27.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.36% of the company’s stock.

Cars.com Trading Up 1.6%

NYSE CARS opened at $11.59 on Friday. The firm’s 50-day moving average is $11.83 and its two-hundred day moving average is $10.41. Cars.com Inc. has a 12 month low of $7.40 and a 12 month high of $13.85. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $620.36 million, a P/E ratio of 20.33 and a beta of 1.59.

Cars.com (NYSE:CARS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $179.93 million during the quarter, compared to analysts’ expectations of $180.53 million. Cars.com had a net margin of 4.73% and a return on equity of 18.82%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that Cars.com Inc. will post 1.61 earnings per share for the current year.

Analyst Ratings Changes

CARS has been the subject of a number of recent analyst reports. BTIG Research restated a “buy” rating and set a $14.00 price target on shares of Cars.com in a report on Thursday, August 6th. Weiss Ratings upgraded Cars.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 13th. Zacks Research upgraded Cars.com from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, UBS Group raised their target price on Cars.com from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cars.com has a consensus rating of “Hold” and an average price target of $14.83.

Cars.com Profile

Cars.com operates as a leading online automotive marketplace in the United States, connecting car shoppers with new and used vehicle listings from dealerships and private sellers. The platform enables consumers to research makes and models, compare prices, read expert and user reviews, and access tools such as TrueCost to estimate ownership expenses over time. Through its website and mobile applications, Cars.com aims to simplify the car-buying process by aggregating detailed vehicle data, payment calculators, and dealership ratings into a single user-friendly experience.

On the dealer side, Cars.com provides a suite of marketing and lead-generation services designed to help automotive retailers reach potential buyers and manage their online presence.