Shares of TrueCar Inc. (NASDAQ:TRUE) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the firm. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.79.
TRUE has been the topic of several research reports. Zacks Investment Research raised shares of TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, August 3rd. B. Riley raised shares of TrueCar to a “neutral” rating and set a $9.50 price objective on the stock in a research note on Sunday, September 4th. JPMorgan Chase & Co. reissued a “hold” rating and set a $6.00 price objective on shares of TrueCar in a research note on Friday, August 5th. Craig Hallum reissued a “hold” rating on shares of TrueCar in a research note on Friday, August 5th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $10.00 price objective (up previously from $6.00) on shares of TrueCar in a research note on Monday, August 8th.
In other news, major shareholder Services Automobile Ass United sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $9.54, for a total transaction of $1,908,000.00. Following the completion of the transaction, the insider now directly owns 10,072,346 shares of the company’s stock, valued at $96,090,180.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Krafcik sold 16,541 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $10.68, for a total transaction of $176,657.88. Following the transaction, the director now directly owns 74,869 shares of the company’s stock, valued at $799,600.92. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantitative Investment Management LLC bought a new position in TrueCar during the second quarter valued at $134,000. State Board of Administration of Florida Retirement System boosted its position in TrueCar by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,538 shares of the company’s stock valued at $161,000 after buying an additional 881 shares during the last quarter. BlackRock Advisors LLC boosted its position in TrueCar by 2.4% in the second quarter. BlackRock Advisors LLC now owns 25,525 shares of the company’s stock valued at $200,000 after buying an additional 587 shares during the last quarter. American International Group Inc. boosted its position in TrueCar by 9.2% in the second quarter. American International Group Inc. now owns 31,287 shares of the company’s stock valued at $246,000 after buying an additional 2,626 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in TrueCar by 8.5% in the second quarter. Nationwide Fund Advisors now owns 35,365 shares of the company’s stock valued at $278,000 after buying an additional 2,770 shares during the last quarter. 58.67% of the stock is owned by hedge funds and other institutional investors.
TrueCar (NASDAQ:TRUE) traded up 1.989% on Tuesday, hitting $9.485. 362,329 shares of the stock were exchanged. The stock’s market cap is $802.49 million. TrueCar has a 12 month low of $4.42 and a 12 month high of $11.13. The company has a 50-day moving average of $9.16 and a 200-day moving average of $8.11.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. TrueCar had a negative net margin of 24.55% and a negative return on equity of 22.85%. The business had revenue of $66.42 million for the quarter, compared to analyst estimates of $65.52 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. TrueCar’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that TrueCar will post ($0.24) EPS for the current year.
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. 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 enterprises.
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