Nordea Investment Management AB Cuts Holdings in Cars.com Inc. $CARS

Nordea Investment Management AB lowered its stake in Cars.com Inc. (NYSE:CARS) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,549 shares of the company’s stock after selling 70,145 shares during the period. Nordea Investment Management AB’s holdings in Cars.com were worth $6,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Cars.com by 27.7% during the third quarter. GAMMA Investing LLC now owns 5,898 shares of the company’s stock worth $72,000 after buying an additional 1,279 shares in the last quarter. iSAM Funds UK Ltd lifted its stake in Cars.com by 12.3% in the third quarter. iSAM Funds UK Ltd now owns 12,499 shares of the company’s stock worth $153,000 after acquiring an additional 1,367 shares during the last quarter. Vident Advisory LLC lifted its stake in Cars.com by 3.3% in the third quarter. Vident Advisory LLC now owns 43,023 shares of the company’s stock worth $526,000 after acquiring an additional 1,386 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Cars.com by 30.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock worth $83,000 after acquiring an additional 1,623 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cars.com by 5.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,177 shares of the company’s stock valued at $701,000 after purchasing an additional 2,927 shares during the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.

Cars.com Trading Down 1.3%

CARS opened at $8.16 on Friday. The firm has a market cap of $478.71 million, a price-to-earnings ratio of 25.51 and a beta of 1.50. Cars.com Inc. has a 52 week low of $7.40 and a 52 week high of $13.97. The business’s 50 day moving average is $10.00 and its two-hundred day moving average is $11.28. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.96.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.12). The firm had revenue of $183.90 million during the quarter, compared to analyst estimates of $183.44 million. Cars.com had a net margin of 2.77% and a return on equity of 17.31%. Cars.com’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. On average, research analysts predict that Cars.com Inc. will post 1.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Cars.com from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Zacks Research lowered Cars.com from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Cars.com in a research note on Tuesday, January 27th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cars.com in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price objective (down from $16.00) on shares of Cars.com in a report on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.08.

About Cars.com

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.