Pacer Advisors Inc. Makes New $486,000 Investment in Cars.com Inc. (NYSE:CARS)

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Pacer Advisors Inc. bought a new position in shares of Cars.com Inc. (NYSE:CARS) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 24,670 shares of the company’s stock, valued at approximately $486,000.

A number of other hedge funds have also recently added to or reduced their stakes in CARS. Geode Capital Management LLC increased its holdings in Cars.com by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 708,015 shares of the company’s stock worth $15,222,000 after purchasing an additional 43,129 shares in the last quarter. Rhumbline Advisers increased its holdings in Cars.com by 0.5% during the 1st quarter. Rhumbline Advisers now owns 209,353 shares of the company’s stock worth $4,773,000 after purchasing an additional 1,126 shares in the last quarter. Texas Permanent School Fund increased its holdings in Cars.com by 2.0% during the 1st quarter. Texas Permanent School Fund now owns 42,099 shares of the company’s stock worth $960,000 after purchasing an additional 819 shares in the last quarter. Gabelli Funds LLC bought a new position in Cars.com during the 1st quarter worth about $220,000. Finally, 13D Management LLC increased its holdings in Cars.com by 4.2% during the 1st quarter. 13D Management LLC now owns 391,870 shares of the company’s stock worth $9,037,000 after purchasing an additional 15,933 shares in the last quarter.

In other news, insider James F. Rogers bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $9.99 per share, for a total transaction of $99,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Alex Vetter bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $10.19 per share, with a total value of $203,800.00. The disclosure for this purchase can be found here. Insiders purchased a total of 58,948 shares of company stock valued at $575,784 over the last quarter. 0.04% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on CARS shares. BTIG Research cut Cars.com from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Citigroup restated a “buy” rating and set a $19.00 price objective (down from $27.00) on shares of Cars.com in a research note on Tuesday, August 6th. Zacks Investment Research downgraded shares of Cars.com from a “hold” rating to a “strong sell” rating in a research note on Monday, August 12th. Craig Hallum upgraded shares of Cars.com from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday. They noted that the move was a valuation call. Finally, B. Riley reduced their price objective on shares of Cars.com from $31.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.31.

Shares of Cars.com stock traded up $0.33 during trading hours on Monday, reaching $11.27. 74,891 shares of the company’s stock were exchanged, compared to its average volume of 1,307,641. The company has a 50 day moving average of $11.39 and a two-hundred day moving average of $19.13. Cars.com Inc. has a fifty-two week low of $8.23 and a fifty-two week high of $28.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The stock has a market cap of $666.72 million, a P/E ratio of 6.20, a P/E/G ratio of 1.50 and a beta of 1.01.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.08). Cars.com had a return on equity of 6.51% and a net margin of 1.59%. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $160.18 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, analysts expect that Cars.com Inc. will post 1.1 earnings per share for the current fiscal year.

Cars.com Company Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.

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Institutional Ownership by Quarter for Cars.com (NYSE:CARS)

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