Arrowstreet Capital Limited Partnership Increases Stake in Cars.com Inc. (NYSE:CARS)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 609.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,889 shares of the company's stock after acquiring an additional 380,439 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.68% of Cars.com worth $7,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in Cars.com by 193.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock worth $29,000 after purchasing an additional 1,079 shares in the last quarter. KBC Group NV increased its position in shares of Cars.com by 68.2% during the fourth quarter. KBC Group NV now owns 3,885 shares of the company's stock valued at $67,000 after buying an additional 1,575 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Cars.com by 41.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company's stock valued at $89,000 after buying an additional 1,516 shares during the period. Principal Securities Inc. raised its stake in Cars.com by 22.1% in the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company's stock worth $152,000 after buying an additional 1,592 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in Cars.com in the fourth quarter worth about $156,000. Hedge funds and other institutional investors own 89.15% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on CARS shares. JPMorgan Chase & Co. reduced their target price on Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Cars.com in a research note on Tuesday, March 4th. DA Davidson decreased their price objective on Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, UBS Group dropped their target price on shares of Cars.com from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Cars.com Stock Down 0.6 %

Shares of Cars.com stock traded down $0.06 during midday trading on Friday, hitting $11.28. The company had a trading volume of 877,766 shares, compared to its average volume of 599,264. Cars.com Inc. has a 52-week low of $9.87 and a 52-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. The stock has a market capitalization of $720.00 million, a P/E ratio of 19.44 and a beta of 1.92. The company has a 50 day moving average of $13.31 and a 200 day moving average of $16.04.

About Cars.com

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.