New York State Teachers Retirement System Boosts Stake in Cars.com Inc. (NYSE:CARS)

Posted by on Oct 27th, 2023

New York State Teachers Retirement System boosted its stake in Cars.com Inc. (NYSE:CARS – Free Report) by 7.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,293 shares of the company’s stock after buying an additional 1,401 shares during the quarter. New York State Teachers Retirement System’s holdings in Cars.com were worth $382,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its stake in Cars.com by 30.0% in the 1st quarter. FMR LLC now owns 8,830,681 shares of the company’s stock valued at $170,432,000 after buying an additional 2,038,163 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Cars.com by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,214,841 shares of the company’s stock worth $82,971,000 after purchasing an additional 61,764 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cars.com by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,523,302 shares of the company’s stock worth $67,998,000 after purchasing an additional 26,322 shares during the period. State Street Corp lifted its stake in shares of Cars.com by 2.3% during the 2nd quarter. State Street Corp now owns 2,372,414 shares of the company’s stock worth $22,372,000 after purchasing an additional 53,295 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Cars.com by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 1,215,900 shares of the company’s stock worth $23,467,000 after purchasing an additional 34,660 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Cars.com Stock Down 1.0 %

Shares of Cars.com stock opened at $15.55 on Friday. The business has a 50-day moving average of $17.49 and a 200-day moving average of $18.82. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $1.03 billion, a PE ratio of 9.42 and a beta of 2.02. Cars.com Inc. has a 1-year low of $12.04 and a 1-year high of $22.84.

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

Insider Transactions at Cars.com

In other Cars.com news, CEO Thomas Alex Vetter sold 17,666 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $19.00, for a total value of $335,654.00. Following the transaction, the chief executive officer now owns 657,215 shares of the company’s stock, valued at $12,487,085. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CARS shares. UBS Group assumed coverage on Cars.com in a research note on Friday, September 15th. They set a “neutral” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Cars.com from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 16th. B. Riley began coverage on Cars.com in a report on Wednesday, July 19th. They issued a “buy” rating and a $26.00 price target for the company. TheStreet upgraded Cars.com from a “c+” rating to a “b” rating in a report on Thursday, June 29th. Finally, Craig Hallum increased their price target on Cars.com from $22.00 to $24.00 in a report on Friday, August 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cars.com has an average rating of “Moderate Buy” and an average price target of $23.54.

Read 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.

See Also

Institutional Ownership by Quarter for Cars.com (NYSE:CARS)

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