New South Capital Management Inc. acquired a new position in Cars.com Inc (NASDAQ:CARS) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,906,538 shares of the company’s stock, valued at approximately $77,402,000. Cars.com makes up 1.8% of New South Capital Management Inc.’s portfolio, making the stock its 24th largest position. New South Capital Management Inc. owned 4.06% of Cars.com at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in CARS. First Personal Financial Services acquired a new stake in Cars.com during the second quarter worth $118,000. First Mercantile Trust Co. acquired a new stake in Cars.com during the second quarter worth $132,000. AT Bancorp acquired a new stake in Cars.com during the second quarter worth $168,000. ING Groep NV acquired a new stake in Cars.com during the second quarter worth $239,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in Cars.com during the second quarter worth $243,000.
Cars.com Inc (NASDAQ:CARS) traded down 0.04% during mid-day trading on Wednesday, hitting $24.18. 165,340 shares of the stock were exchanged. The company has a 50 day moving average price of $24.74 and a 200 day moving average price of $25.56. The firm has a market cap of $1.73 billion and a price-to-earnings ratio of 11.37. Cars.com Inc has a 52-week low of $19.90 and a 52-week high of $29.47.
Cars.com (NASDAQ:CARS) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.40. The firm had revenue of $156.62 million for the quarter, compared to the consensus estimate of $157 million. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. On average, analysts anticipate that Cars.com Inc will post $1.35 EPS for the current year.
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A number of research firms have recently weighed in on CARS. Craig Hallum began coverage on shares of Cars.com in a research note on Thursday, July 20th. They issued a “hold” rating and a $25.00 price objective on the stock. Barrington Research began coverage on shares of Cars.com in a research note on Tuesday, June 6th. They issued an “outperform” rating on the stock.
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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