Gabelli Funds LLC Invests $908,000 in TrueCar, Inc. $TRUE

Gabelli Funds LLC purchased a new position in shares of TrueCar, Inc. (NASDAQ:TRUE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 401,723 shares of the technology company’s stock, valued at approximately $908,000.

Several other institutional investors also recently modified their holdings of TRUE. AQR Capital Management LLC increased its holdings in shares of TrueCar by 332.9% during the first quarter. AQR Capital Management LLC now owns 59,791 shares of the technology company’s stock worth $94,000 after buying an additional 45,980 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of TrueCar by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 387,829 shares of the technology company’s stock worth $613,000 after buying an additional 16,822 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of TrueCar during the first quarter worth $234,000. Strs Ohio acquired a new position in shares of TrueCar during the first quarter worth $38,000. Finally, Geode Capital Management LLC increased its holdings in shares of TrueCar by 1.3% during the second quarter. Geode Capital Management LLC now owns 1,842,858 shares of the technology company’s stock worth $3,502,000 after buying an additional 24,162 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors and hedge funds.

TrueCar Stock Performance

Shares of NASDAQ:TRUE opened at $2.54 on Friday. The company has a fifty day moving average of $2.54 and a 200-day moving average of $2.41. The company has a market capitalization of $225.91 million, a PE ratio of -11.55 and a beta of 2.22. TrueCar, Inc. has a 52-week low of $1.05 and a 52-week high of $2.54.

TrueCar Profile

TrueCar, Inc operates a digital automotive marketplace designed to streamline the vehicle buying and selling process in the United States. Through its online platform, TrueCar provides prospective car buyers with transparent pricing information, real‐time market data and guaranteed savings from a network of certified dealers. The company’s core offerings include pricing analytics, dealer inventory listings and a purchase–price guarantee that aims to reduce the negotiation burden typically associated with new and used vehicle transactions.

Founded in 2005 under the name Zag.com by entrepreneur Scott Painter, the company rebranded as TrueCar in 2010 and subsequently completed its initial public offering in 2014.