Cars.com Inc. (NYSE:CARS – Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.80 and last traded at $11.47, with a volume of 868808 shares. The stock had previously closed at $11.27.
Analysts Set New Price Targets
CARS has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Cars.com from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. DA Davidson decreased their price objective on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cars.com has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.
Read Our Latest Analysis on CARS
Cars.com Trading Up 1.8 %
Institutional Trading of Cars.com
A number of hedge funds have recently bought and sold shares of CARS. Pacer Advisors Inc. boosted its holdings in Cars.com by 62,357.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company’s stock valued at $41,798,000 after purchasing an additional 2,489,939 shares during the period. Boston Partners boosted its holdings in Cars.com by 26.0% in the 4th quarter. Boston Partners now owns 3,178,426 shares of the company’s stock valued at $55,021,000 after purchasing an additional 655,518 shares during the period. SG Capital Management LLC bought a new stake in Cars.com in the 4th quarter valued at $10,908,000. Arrowstreet Capital Limited Partnership boosted its holdings in Cars.com by 609.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 442,889 shares of the company’s stock valued at $7,675,000 after purchasing an additional 380,439 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in Cars.com in the 4th quarter valued at $4,460,000. 89.15% of the stock is owned by institutional investors.
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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