Harvest Capital Strategies LLC bought a new stake in shares of TrueCar Inc (NASDAQ:TRUE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 954,110 shares of the technology company’s stock, valued at approximately $10,686,000. TrueCar comprises 1.9% of Harvest Capital Strategies LLC’s investment portfolio, making the stock its 14th largest holding. Harvest Capital Strategies LLC owned about 0.95% of TrueCar as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of TrueCar during the third quarter valued at $104,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of TrueCar during the third quarter valued at $119,000. Global Endowment Management LP purchased a new stake in shares of TrueCar during the fourth quarter valued at $133,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of TrueCar during the fourth quarter valued at $190,000. Finally, MANA Advisors LLC purchased a new stake in shares of TrueCar during the fourth quarter valued at $208,000. 89.02% of the stock is owned by institutional investors and hedge funds.
Shares of TRUE stock traded down $0.03 during mid-day trading on Wednesday, reaching $9.91. The company’s stock had a trading volume of 375,509 shares, compared to its average volume of 1,900,694. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.41 and a current ratio of 6.41. TrueCar Inc has a 12 month low of $9.63 and a 12 month high of $21.75. The firm has a market cap of $1,024.69, a price-to-earnings ratio of -28.40 and a beta of 2.52.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. TrueCar had a negative return on equity of 8.70% and a negative net margin of 10.16%. The company had revenue of $83.13 million for the quarter, compared to analyst estimates of $81.72 million. During the same period in the prior year, the firm posted ($0.01) EPS. The business’s revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that TrueCar Inc will post -0.25 earnings per share for the current fiscal year.
Several brokerages have recently commented on TRUE. Stephens set a $18.00 target price on TrueCar and gave the company a “buy” rating in a report on Friday, February 16th. B. Riley reissued a “buy” rating and issued a $18.00 price objective on shares of TrueCar in a research note on Wednesday, January 24th. Zacks Investment Research downgraded TrueCar from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. Finally, ValuEngine downgraded TrueCar from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.56.
In other TrueCar news, SVP John Pierantoni sold 2,494 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $11.29, for a total value of $28,157.26. Following the transaction, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at approximately $649,321.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 5,227 shares of company stock worth $59,857. Insiders own 15.50% of the company’s stock.
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TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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