Pacer Advisors Inc. Sells 230,273 Shares of Cars.com Inc. $CARS

Pacer Advisors Inc. lowered its stake in Cars.com Inc. (NYSE:CARS) by 37.3% in the 3rd quarter, Holdings Channel reports. The firm owned 386,380 shares of the company’s stock after selling 230,273 shares during the quarter. Pacer Advisors Inc.’s holdings in Cars.com were worth $4,722,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CARS. Hill Path Capital LP purchased a new position in shares of Cars.com during the 2nd quarter valued at $23,854,000. Brown Advisory Inc. purchased a new stake in shares of Cars.com during the 2nd quarter valued at $16,456,000. Par Capital Management Inc. bought a new position in Cars.com in the second quarter valued at $14,220,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cars.com by 89.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 859,245 shares of the company’s stock worth $10,182,000 after purchasing an additional 404,603 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Cars.com by 3.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 607,143 shares of the company’s stock worth $7,195,000 after buying an additional 22,000 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Price Performance

Shares of CARS stock opened at $12.57 on Tuesday. The business’s fifty day moving average is $11.75 and its 200 day moving average is $12.15. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. The stock has a market cap of $751.51 million, a price-to-earnings ratio of 27.32 and a beta of 1.45. Cars.com Inc. has a twelve month low of $9.56 and a twelve month high of $19.00.

Cars.com (NYSE:CARS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $181.57 million for the quarter, compared to analysts’ expectations of $181.37 million. Cars.com had a net margin of 4.16% and a return on equity of 18.32%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. Research analysts expect that Cars.com Inc. will post 1.19 EPS for the current fiscal year.

Insider Transactions at Cars.com

In related news, insider Matthew B. Crawford sold 27,358 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $12.03, for a total transaction of $329,116.74. Following the sale, the insider owned 71,103 shares of the company’s stock, valued at $855,369.09. The trade was a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sonia Jain sold 11,400 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $13.45, for a total transaction of $153,330.00. Following the transaction, the chief financial officer directly owned 243,642 shares of the company’s stock, valued at $3,276,984.90. This represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.12% of the company’s stock.

Analysts Set New Price Targets

CARS has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Cars.com from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. DA Davidson restated a “buy” rating and issued a $13.50 price objective on shares of Cars.com in a research report on Tuesday, November 18th. Wall Street Zen upgraded Cars.com from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Zacks Research lowered shares of Cars.com from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.70.

Cars.com Company Profile

Cars.com operates as a leading online automotive marketplace in the United States, connecting car shoppers with new and used vehicle listings from dealerships and private sellers. The platform enables consumers to research makes and models, compare prices, read expert and user reviews, and access tools such as TrueCost to estimate ownership expenses over time. Through its website and mobile applications, Cars.com aims to simplify the car-buying process by aggregating detailed vehicle data, payment calculators, and dealership ratings into a single user-friendly experience.

On the dealer side, Cars.com provides a suite of marketing and lead-generation services designed to help automotive retailers reach potential buyers and manage their online presence.