American Century Companies Inc. Acquires 126,938 Shares of Cars.com Inc. (NYSE:CARS)

Posted by Defense World Staff on Sep 2nd, 2023

American Century Companies Inc. raised its holdings in shares of Cars.com Inc. (NYSE:CARS – Free Report) by 18.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 826,192 shares of the company’s stock after purchasing an additional 126,938 shares during the quarter. American Century Companies Inc. owned 1.24% of Cars.com worth $15,640,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MetLife Investment Management LLC lifted its holdings in Cars.com by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 37,039 shares of the company’s stock valued at $534,000 after buying an additional 13,181 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Cars.com by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,998 shares of the company’s stock valued at $808,000 after purchasing an additional 6,904 shares during the period. Dimensional Fund Advisors LP grew its stake in Cars.com by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,505,811 shares of the company’s stock worth $50,591,000 after purchasing an additional 45,753 shares in the last quarter. Quantedge Capital Pte Ltd purchased a new position in Cars.com during the 1st quarter worth $215,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Cars.com during the 1st quarter valued at $1,534,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cars.com

In related news, insider Angelique Strong Marks sold 6,000 shares of Cars.com stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $18.50, for a total value of $111,000.00. Following the completion of the sale, the insider now directly owns 96,962 shares in the company, valued at approximately $1,793,797. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Angelique Strong Marks sold 6,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $18.50, for a total value of $111,000.00. Following the transaction, the insider now directly owns 96,962 shares of the company’s stock, valued at approximately $1,793,797. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Alex Vetter sold 17,666 shares of Cars.com stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $19.00, for a total value of $335,654.00. Following the sale, the chief executive officer now directly owns 657,215 shares of the company’s stock, valued at approximately $12,487,085. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,666 shares of company stock worth $845,744. Insiders own 1.59% of the company’s stock.

Cars.com Trading Up 0.3 %

NYSE:CARS opened at $18.74 on Friday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.36 and a beta of 1.98. Cars.com Inc. has a 52 week low of $10.55 and a 52 week high of $22.84. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $20.22 and a 200 day moving average of $19.08.

Cars.com (NYSE:CARS – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $0.46 by $0.91. Cars.com had a return on equity of 27.83% and a net margin of 16.90%. The firm had revenue of $168.20 million during the quarter, compared to analyst estimates of $168.97 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cars.com Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CARS shares. B. Riley assumed coverage on Cars.com in a research note on Wednesday, July 19th. They set a “buy” rating and a $26.00 price target on the stock. TheStreet raised shares of Cars.com from a “c+” rating to a “b” rating in a research report on Thursday, June 29th. JPMorgan Chase & Co. began coverage on shares of Cars.com in a research note on Tuesday, June 27th. They set an “overweight” rating and a $23.00 price objective on the stock. Finally, Craig Hallum boosted their price objective on shares of Cars.com from $22.00 to $24.00 in a research note on Friday, August 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Cars.com currently has a consensus rating of “Buy” and a consensus target price of $23.85.

Get Our Latest Analysis on CARS

Cars.com Company Profile

(Free Report)

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.