Globeflex Capital L P Boosts Stake in CarGurus, Inc. (NASDAQ:CARG)

Globeflex Capital L P lifted its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 547.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,523 shares of the company's stock after acquiring an additional 10,590 shares during the quarter. Globeflex Capital L P's holdings in CarGurus were worth $458,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new stake in shares of CarGurus during the third quarter worth about $21,052,000. Raymond James Financial Inc. purchased a new stake in CarGurus during the 4th quarter worth approximately $19,465,000. State Street Corp lifted its holdings in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock worth $99,066,000 after buying an additional 151,862 shares in the last quarter. Barclays PLC lifted its holdings in CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company's stock worth $5,089,000 after buying an additional 121,341 shares in the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in CarGurus in the 4th quarter valued at approximately $3,852,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Stock Down 0.1 %

CarGurus stock traded down $0.04 during mid-day trading on Thursday, hitting $29.87. The company had a trading volume of 1,634,473 shares, compared to its average volume of 1,103,601. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 165.95, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The business has a fifty day moving average of $35.98 and a 200 day moving average of $34.22.

Remove Ads

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. Equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Oppenheimer reduced their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. Finally, JMP Securities restated a "market outperform" rating and set a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CarGurus presently has an average rating of "Buy" and an average price target of $39.55.

Insider Activity at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now owns 120,051 shares of the company's stock, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares of the company's stock, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 in the last 90 days. 17.20% of the stock is owned by insiders.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.