Bank of New York Mellon Corp Cuts Stock Holdings in Cars.com Inc. (NYSE:CARS)

Bank of New York Mellon Corp cut its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,812 shares of the company's stock after selling 48,166 shares during the period. Bank of New York Mellon Corp owned about 0.75% of Cars.com worth $8,419,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CARS. Advisors Asset Management Inc. lifted its stake in Cars.com by 145.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company's stock valued at $53,000 after acquiring an additional 1,864 shares in the last quarter. KBC Group NV lifted its stake in Cars.com by 68.2% during the 4th quarter. KBC Group NV now owns 3,885 shares of the company's stock valued at $67,000 after acquiring an additional 1,575 shares in the last quarter. Principal Securities Inc. lifted its stake in Cars.com by 22.1% during the 4th quarter. Principal Securities Inc. now owns 8,786 shares of the company's stock valued at $152,000 after acquiring an additional 1,592 shares in the last quarter. MQS Management LLC bought a new position in Cars.com during the 3rd quarter valued at $171,000. Finally, Paloma Partners Management Co bought a new position in Cars.com during the 3rd quarter valued at $198,000. 89.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on 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 lowered their target price on Cars.com from $21.00 to $14.50 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Barrington Research reiterated an "outperform" rating and set a $25.00 target price on shares of Cars.com in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

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Cars.com Stock Performance

CARS traded up $0.23 during trading hours on Friday, hitting $11.37. The stock had a trading volume of 726,439 shares, compared to its average volume of 532,429. The company's fifty day simple moving average is $16.03 and its 200 day simple moving average is $16.98. Cars.com Inc. has a 1 year low of $11.01 and a 1 year high of $21.24. The stock has a market cap of $725.69 million, a PE ratio of 19.60 and a beta of 2.16. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

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.