The Manufacturers Life Insurance Company increased its holdings in shares of Cars.com Inc (NYSE:CARS) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,680 shares of the company’s stock after purchasing an additional 13,800 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Cars.com were worth $4,923,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CARS. Catalus Capital Management LLC purchased a new stake in Cars.com during the fourth quarter worth approximately $192,402,000. Evercore Trust Company N.A. purchased a new stake in Cars.com during the third quarter worth approximately $59,099,000. Jackson Square Partners LLC purchased a new stake in Cars.com during the third quarter worth approximately $53,311,000. Investec Asset Management LTD purchased a new stake in Cars.com during the third quarter worth approximately $22,794,000. Finally, Ruane Cunniff & Goldfarb Inc. purchased a new stake in Cars.com during the third quarter worth approximately $16,259,000.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Cars.com from a “sell” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Tuesday, January 9th. ValuEngine upgraded Cars.com from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. B. Riley reaffirmed a “buy” rating and set a $36.00 price target on shares of Cars.com in a research report on Wednesday, January 31st. Finally, Barrington Research reaffirmed a “buy” rating on shares of Cars.com in a research report on Friday, March 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.88.
Cars.com (NYSE:CARS) last released its quarterly earnings results on Tuesday, March 6th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The company had revenue of $156.57 million for the quarter, compared to analyst estimates of $156.30 million. Cars.com had a return on equity of 8.16% and a net margin of 35.84%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. equities analysts anticipate that Cars.com Inc will post 0.96 earnings per share for the current year.
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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