Y Intercept Hong Kong Ltd Purchases New Stake in CarGurus, Inc. $CARG

Y Intercept Hong Kong Ltd acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 49,247 shares of the company’s stock, valued at approximately $1,833,000.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of CarGurus by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock worth $64,093,000 after buying an additional 6,676 shares in the last quarter. Congress Asset Management Co. bought a new position in CarGurus during the 3rd quarter valued at $70,856,000. Invesco Ltd. increased its position in shares of CarGurus by 6.9% during the 2nd quarter. Invesco Ltd. now owns 1,717,321 shares of the company’s stock valued at $57,479,000 after purchasing an additional 110,452 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of CarGurus by 22.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,699,910 shares of the company’s stock worth $56,896,000 after buying an additional 311,287 shares in the last quarter. Finally, Boston Partners boosted its stake in CarGurus by 26.2% during the second quarter. Boston Partners now owns 1,109,048 shares of the company’s stock valued at $36,845,000 after buying an additional 230,492 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group raised their price objective on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Jefferies Financial Group boosted their price target on shares of CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of CarGurus in a research report on Monday, December 29th. Wall Street Zen cut CarGurus from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, DA Davidson set a $37.50 price target on shares of CarGurus in a research report on Monday, November 17th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, CarGurus presently has a consensus rating of “Hold” and an average target price of $40.86.

Insider Buying and Selling

In other CarGurus news, insider Ismail Elshareef sold 1,228 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $42,955.44. Following the transaction, the insider owned 95,907 shares of the company’s stock, valued at approximately $3,354,826.86. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason Trevisan sold 16,548 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $39.02, for a total value of $645,702.96. Following the transaction, the chief executive officer owned 630,483 shares of the company’s stock, valued at $24,601,446.66. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 58,586 shares of company stock worth $2,198,264. Company insiders own 16.99% of the company’s stock.

CarGurus Price Performance

Shares of CARG opened at $33.01 on Friday. The business’s 50 day simple moving average is $36.60 and its 200-day simple moving average is $35.29. CarGurus, Inc. has a one year low of $24.65 and a one year high of $41.33. The company has a market capitalization of $3.15 billion, a P/E ratio of 22.46, a PEG ratio of 1.36 and a beta of 1.36.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. On average, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.