Russell Investments Group Ltd. Grows Stock Holdings in Cars.com Inc. (NYSE:CARS)

Posted by Defense World Staff on May 13th, 2023

Russell Investments Group Ltd. lifted its position in shares of Cars.com Inc. (NYSE:CARS – Get Rating) by 2,021.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 675,523 shares of the company’s stock after purchasing an additional 643,686 shares during the period. Russell Investments Group Ltd. owned about 1.01% of Cars.com worth $9,302,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Captrust Financial Advisors lifted its position in Cars.com by 117.4% in the second quarter. Captrust Financial Advisors now owns 5,392 shares of the company’s stock valued at $51,000 after acquiring an additional 2,912 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Cars.com by 57.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,852 shares of the company’s stock valued at $56,000 after acquiring an additional 1,762 shares during the last quarter. UBS Group AG lifted its position in Cars.com by 597.8% in the third quarter. UBS Group AG now owns 6,078 shares of the company’s stock valued at $70,000 after acquiring an additional 5,207 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in Cars.com in the third quarter valued at $134,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cars.com by 17.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,821 shares of the company’s stock valued at $135,000 after acquiring an additional 1,468 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARS has been the subject of a number of research reports. TheStreet raised shares of Cars.com from a “c” rating to a “b” rating in a report on Thursday, May 4th. Craig Hallum boosted their price target on shares of Cars.com from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. BTIG Research boosted their price target on shares of Cars.com from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Finally, DA Davidson upped their target price on shares of Cars.com from $17.50 to $23.25 and gave the stock a “buy” rating in a research report on Friday, February 24th.

Cars.com Stock Performance

NYSE:CARS opened at $18.79 on Friday. Cars.com Inc. has a fifty-two week low of $8.78 and a fifty-two week high of $20.42. The firm’s 50 day moving average is $18.54 and its two-hundred day moving average is $16.38. The company has a market cap of $1.25 billion, a P/E ratio of 52.19 and a beta of 1.94. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.14.

Cars.com (NYSE:CARS – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $166.91 million. Cars.com had a net margin of 3.67% and a return on equity of 6.33%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS.

Insider Transactions at Cars.com

In other news, CEO Thomas Alex Vetter sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $17.09, for a total value of $27,344.00. Following the transaction, the chief executive officer now directly owns 507,910 shares in the company, valued at approximately $8,680,181.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cars.com news, CEO Thomas Alex Vetter sold 1,600 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $17.09, for a total transaction of $27,344.00. Following the sale, the chief executive officer now directly owns 507,910 shares in the company, valued at approximately $8,680,181.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas E. Hale sold 17,216 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $18.69, for a total transaction of $321,767.04. Following the sale, the director now owns 40,828 shares in the company, valued at $763,075.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,760 shares of company stock worth $2,404,092. 1.50% of the stock is currently owned by insiders.

Cars.com Company Profile

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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.