OppenheimerFunds Inc. bought a new position in shares of Cars.com Inc (NYSE:CARS) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,716 shares of the company’s stock, valued at approximately $223,000.
A number of other hedge funds have also recently added to or reduced their stakes in CARS. First Trust Advisors LP bought a new position in Cars.com during the 3rd quarter worth about $1,477,000. Crossmark Global Holdings Inc. acquired a new position in shares of Cars.com during the 3rd quarter worth about $212,000. Comerica Bank acquired a new position in shares of Cars.com during the 3rd quarter worth about $1,334,000. Russell Investments Group Ltd. boosted its stake in shares of Cars.com by 48.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 267,606 shares of the company’s stock worth $7,120,000 after buying an additional 87,925 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Cars.com by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 225,089 shares of the company’s stock worth $5,989,000 after buying an additional 2,339 shares during the last quarter.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cars.com from a “sell” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, January 9th. Barrington Research restated a “buy” rating on shares of Cars.com in a research note on Friday, March 2nd. Benchmark assumed coverage on shares of Cars.com in a research note on Thursday. They set a “hold” rating for the company. ValuEngine downgraded shares of Cars.com from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, B. Riley restated a “buy” rating and set a $36.00 price objective on shares of Cars.com in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $34.88.
Cars.com (NYSE:CARS) last issued its earnings results on Tuesday, March 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.16. Cars.com had a net margin of 35.84% and a return on equity of 8.16%. The business had revenue of $156.57 million during the quarter, compared to the consensus estimate of $156.30 million. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. research analysts forecast that Cars.com Inc will post 1.09 earnings per share for the current fiscal year.
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Cars.com Company Profile
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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