Arrowstreet Capital Limited Partnership Purchases 224,969 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Arrowstreet Capital Limited Partnership raised its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 75.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 521,467 shares of the technology company's stock after acquiring an additional 224,969 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.60% of TrueCar worth $1,945,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. R Squared Ltd bought a new stake in TrueCar during the fourth quarter worth $49,000. BNP Paribas Financial Markets raised its holdings in shares of TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company's stock valued at $210,000 after purchasing an additional 8,027 shares during the period. Jane Street Group LLC lifted its stake in TrueCar by 19.4% in the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company's stock valued at $344,000 after purchasing an additional 16,163 shares during the last quarter. Barclays PLC grew its holdings in TrueCar by 169.2% during the third quarter. Barclays PLC now owns 130,062 shares of the technology company's stock worth $448,000 after purchasing an additional 81,745 shares during the period. Finally, Noesis Capital Mangement Corp increased its position in TrueCar by 25.0% during the fourth quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company's stock worth $466,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 79.44% of the company's stock.

TrueCar Stock Performance

Shares of TRUE stock traded down $0.01 on Wednesday, hitting $1.29. The company's stock had a trading volume of 39,807 shares, compared to its average volume of 269,620. TrueCar, Inc. has a fifty-two week low of $1.26 and a fifty-two week high of $4.62. The stock's 50 day moving average is $2.11 and its 200-day moving average is $3.21. The company has a market capitalization of $112.12 million, a PE ratio of -3.78 and a beta of 1.97.

TrueCar (NASDAQ:TRUE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. The company had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. On average, research analysts forecast that TrueCar, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on TRUE shares. Citigroup lowered TrueCar to an "underweight" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. downgraded shares of TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. StockNews.com lowered shares of TrueCar from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reduced their target price on shares of TrueCar from $5.00 to $4.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.63.

TrueCar Company Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.