Peddock Capital Advisors LLC Reduces Holdings in CarGurus Inc (NASDAQ:CARG)

Peddock Capital Advisors LLC decreased its position in CarGurus Inc (NASDAQ:CARG) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company’s stock after selling 10,000 shares during the period. Peddock Capital Advisors LLC’s holdings in CarGurus were worth $310,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Natixis purchased a new stake in shares of CarGurus in the 2nd quarter valued at approximately $3,478,000. Verition Fund Management LLC purchased a new stake in shares of CarGurus in the 2nd quarter valued at approximately $412,000. Nuveen Asset Management LLC purchased a new stake in shares of CarGurus in the 2nd quarter valued at approximately $26,835,000. UBS Asset Management Americas Inc. grew its stake in shares of CarGurus by 717.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 45,022 shares of the company’s stock valued at $1,626,000 after buying an additional 39,516 shares during the period. Finally, CSat Investment Advisory L.P. purchased a new stake in shares of CarGurus in the 2nd quarter valued at approximately $90,000. 66.25% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Langley Steinert sold 2,500 shares of CarGurus stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.05, for a total transaction of $62,625.00. Also, Director Anastasios Parafestas sold 111,400 shares of CarGurus stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $35.65, for a total transaction of $3,971,410.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,866,273 shares of company stock worth $62,611,520 over the last quarter. 34.51% of the stock is owned by company insiders.

Shares of CARG traded up $0.13 during midday trading on Wednesday, reaching $31.35. The stock had a trading volume of 32,823 shares, compared to its average volume of 1,116,868. CarGurus Inc has a 1-year low of $28.65 and a 1-year high of $49.00. The company’s fifty day simple moving average is $31.97 and its two-hundred day simple moving average is $35.43. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 54.96, a PEG ratio of 2.88 and a beta of 1.87. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.68 and a quick ratio of 2.68.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.03. CarGurus had a net margin of 8.22% and a return on equity of 17.12%. The business had revenue of $145.03 million for the quarter, compared to analyst estimates of $140.67 million. During the same period last year, the business earned $0.06 EPS. The company’s revenue was up 31.5% on a year-over-year basis. On average, sell-side analysts forecast that CarGurus Inc will post 0.28 earnings per share for the current year.

Several analysts have recently weighed in on the stock. JMP Securities dropped their price target on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Needham & Company LLC assumed coverage on shares of CarGurus in a research note on Thursday, September 12th. They issued a “hold” rating for the company. Consumer Edge assumed coverage on shares of CarGurus in a research note on Friday, August 2nd. They issued an “overweight” rating for the company. Finally, Zacks Investment Research raised shares of CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. CarGurus presently has a consensus rating of “Buy” and an average price target of $48.42.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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