Granite Investment Partners LLC Reduces Position in Care.com, Inc. (NYSE:CRCM)
Granite Investment Partners LLC cut its position in shares of Care.com, Inc. (NYSE:CRCM) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,169 shares of the information services provider’s stock after selling 7,223 shares during the period. Granite Investment Partners LLC’s holdings in Care.com were worth $2,252,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Care.com by 2.2% in the fourth quarter. State Street Corp now owns 260,904 shares of the information services provider’s stock worth $2,239,000 after buying an additional 5,505 shares during the period. Teachers Advisors LLC boosted its stake in shares of Care.com by 69.2% in the fourth quarter. Teachers Advisors LLC now owns 49,715 shares of the information services provider’s stock worth $426,000 after buying an additional 20,339 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Care.com by 54.2% in the first quarter. Acadian Asset Management LLC now owns 398,905 shares of the information services provider’s stock worth $4,988,000 after buying an additional 140,181 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Care.com by 143.1% in the first quarter. Russell Investments Group Ltd. now owns 26,500 shares of the information services provider’s stock worth $331,000 after buying an additional 15,600 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Care.com during the first quarter worth $2,825,000. 72.47% of the stock is owned by hedge funds and other institutional investors.
Care.com, Inc. (NYSE CRCM) opened at 15.48 on Friday. The firm has a 50-day moving average of $14.88 and a 200-day moving average of $12.90. Care.com, Inc. has a 1-year low of $7.51 and a 1-year high of $16.07. The firm’s market capitalization is $455.17 million.
Care.com (NYSE:CRCM) last posted its quarterly earnings results on Thursday, August 10th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.15. Care.com had a net margin of 3.66% and a return on equity of 11.32%. The company had revenue of $42 million for the quarter, compared to the consensus estimate of $41.34 million. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts expect that Care.com, Inc. will post $0.39 earnings per share for the current year.
CRCM has been the subject of a number of research reports. Roth Capital set a $14.00 price target on shares of Care.com and gave the company a “hold” rating in a research report on Monday, June 12th. Zacks Investment Research cut shares of Care.com from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub cut shares of Care.com from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Stifel Nicolaus boosted their price target on shares of Care.com from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $15.00.
In other news, insider David Krupinski sold 3,825 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $14.66, for a total value of $56,074.50. Following the transaction, the insider now directly owns 175,934 shares in the company, valued at approximately $2,579,192.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Echenberg sold 6,547 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $14.38, for a total transaction of $94,145.86. Following the completion of the transaction, the chief financial officer now owns 22,438 shares in the company, valued at $322,658.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,095 shares of company stock worth $651,424. Insiders own 24.70% of the company’s stock.
Care.com, Inc is an online marketplace for finding and managing family care. As of December 31, 2016, the Company had 22.8 million members, including 12.9 million families and 9.9 million caregivers, spanning 19 countries. Its consumer matching solutions allow families to search for, qualify, vet, connect with and select caregivers.
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