TrueCar (TRUE) Scheduled to Post Earnings on Monday

Posted by Defense World Staff on May 6th, 2023

TrueCar (NASDAQ:TRUE – Get Rating) will be posting its quarterly earnings results after the market closes on Monday, May 8th. Analysts expect TrueCar to post earnings of ($0.15) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

TrueCar Trading Up 1.2 %

Shares of TRUE opened at $2.59 on Friday. The business’s 50-day moving average price is $2.36 and its 200 day moving average price is $2.47. The stock has a market capitalization of $230.98 million, a P/E ratio of -1.98 and a beta of 1.41. TrueCar has a 1-year low of $1.30 and a 1-year high of $3.76.

Insider Activity

In other news, Director Brendan L. Harrington purchased 10,400 shares of TrueCar stock in a transaction dated Monday, February 27th. The stock was acquired at an average cost of $2.45 per share, for a total transaction of $25,480.00. Following the acquisition, the director now directly owns 211,741 shares in the company, valued at $518,765.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TrueCar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in TrueCar by 0.6% in the 3rd quarter. BlackRock Inc. now owns 7,620,755 shares of the technology company’s stock worth $11,507,000 after purchasing an additional 41,985 shares during the last quarter. Vanguard Group Inc. lifted its holdings in TrueCar by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,447,086 shares of the technology company’s stock worth $17,565,000 after purchasing an additional 120,925 shares during the last quarter. Cannell Capital LLC acquired a new stake in TrueCar in the 1st quarter worth approximately $16,067,000. Dimensional Fund Advisors LP lifted its holdings in TrueCar by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,859,387 shares of the technology company’s stock worth $11,293,000 after purchasing an additional 403,592 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in TrueCar by 11.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,527,401 shares of the technology company’s stock worth $6,546,000 after purchasing an additional 260,300 shares during the last quarter. 97.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TRUE shares. StockNews.com started coverage on TrueCar in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Needham & Company LLC upgraded TrueCar from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Tuesday, March 14th.

TrueCar Company Profile

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TrueCar, Inc engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The firm’s products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car.