Y Intercept Hong Kong Ltd Lowers Position in Cars.com Inc. (NYSE:CARS)

Y Intercept Hong Kong Ltd lessened its holdings in shares of Cars.com Inc. (NYSE:CARS) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,472 shares of the company’s stock after selling 2,213 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Cars.com were worth $293,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cars.com during the second quarter valued at approximately $38,000. CWM LLC raised its stake in Cars.com by 253.2% during the second quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after buying an additional 1,575 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Cars.com by 145.2% in the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after acquiring an additional 1,864 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Cars.com in the third quarter worth $171,000. Finally, Point72 DIFC Ltd bought a new position in shares of Cars.com during the second quarter valued at $180,000. Institutional investors own 89.15% of the company’s stock.

Insiders Place Their Bets

In other Cars.com news, CFO Sonia Jain sold 24,971 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total value of $492,927.54. Following the transaction, the chief financial officer now directly owns 229,229 shares of the company’s stock, valued at approximately $4,524,980.46. This trade represents a 9.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jill A. Greenthal sold 4,524 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total transaction of $89,846.64. Following the sale, the director now directly owns 101,963 shares of the company’s stock, valued at $2,024,985.18. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by insiders.

Cars.com Price Performance

Shares of NYSE:CARS opened at $18.15 on Wednesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 31.28 and a beta of 2.12. The business has a 50-day simple moving average of $17.74 and a two-hundred day simple moving average of $18.20. Cars.com Inc. has a fifty-two week low of $15.05 and a fifty-two week high of $21.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79.

Analysts Set New Price Targets

CARS has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research note on Wednesday, November 13th. Finally, UBS Group raised their price target on shares of Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, November 8th.

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.