NGAM Advisors L.P. bought a new position in shares of Cars.com Inc (NASDAQ:CARS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,249 shares of the company’s stock, valued at approximately $353,000.
Several other institutional investors have also modified their holdings of the stock. Municipal Employees Retirement System of Michigan acquired a new position in shares of Cars.com during the second quarter worth $874,000. Reliance Trust Co. of Delaware acquired a new position in shares of Cars.com during the second quarter worth $243,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Cars.com during the second quarter worth $300,000. Cubic Asset Management LLC acquired a new position in shares of Cars.com during the second quarter worth $990,000. Finally, Strs Ohio acquired a new position in shares of Cars.com during the second quarter worth $585,000.
Shares of Cars.com Inc (NASDAQ:CARS) opened at 24.46 on Friday. The company has a 50 day moving average price of $24.81 and a 200 day moving average price of $25.58. Cars.com Inc has a 52 week low of $22.95 and a 52 week high of $29.47. The company has a market cap of $1.75 billion and a PE ratio of 11.51.
Cars.com (NASDAQ:CARS) last announced its earnings results on Wednesday, August 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The business had revenue of $156.62 million for the quarter, compared to analyst estimates of $157 million. During the same quarter last year, the firm earned $0.59 EPS. Cars.com’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts expect that Cars.com Inc will post $1.35 earnings per share for the current year.
A number of brokerages have recently weighed in on CARS. Craig Hallum began coverage on Cars.com in a report on Thursday, July 20th. They issued a “hold” rating and a $25.00 target price on the stock. Barrington Research started coverage on Cars.com in a research note on Tuesday, June 6th. They issued an “outperform” rating for the company.
About Cars.com
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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