JPMorgan Chase & Co. Boosts Stock Position in Cars.com Inc. $CARS

JPMorgan Chase & Co. boosted its holdings in Cars.com Inc. (NYSE:CARS) by 143.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 531,486 shares of the company’s stock after buying an additional 313,128 shares during the period. JPMorgan Chase & Co. owned 0.89% of Cars.com worth $6,495,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Cars.com by 27.7% in 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. BNP Paribas Financial Markets lifted its holdings in shares of Cars.com by 30.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock worth $83,000 after buying an additional 1,623 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Cars.com by 436.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,960 shares of the company’s stock valued at $94,000 after acquiring an additional 6,475 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Cars.com in the 3rd quarter worth approximately $100,000. Finally, State of Wyoming bought a new stake in Cars.com during the 2nd quarter valued at $115,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

Cars.com Stock Performance

Shares of CARS stock opened at $8.12 on Wednesday. Cars.com Inc. has a 52-week low of $7.40 and a 52-week high of $13.97. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.96. The stock has a market cap of $475.86 million, a PE ratio of 25.36 and a beta of 1.50. The business has a 50-day simple moving average of $9.77 and a 200-day simple moving average of $11.13.

Cars.com (NYSE:CARS) last announced its quarterly earnings results 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). Cars.com had a net margin of 2.77% and a return on equity of 17.31%. The company had revenue of $183.90 million for the quarter, compared to analysts’ expectations of $183.44 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Cars.com Inc. will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CARS shares. Zacks Research downgraded shares of Cars.com from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down from $16.00) on shares of Cars.com in a research report on Friday, February 27th. BTIG Research reduced their target price on Cars.com from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research report on Friday, February 27th. Finally, UBS Group lifted their price target on Cars.com from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.08.

Cars.com Profile

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.