Fmr LLC Grows Stock Position in Cars.com Inc. (NYSE:CARS)

FMR LLC grew its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 9,902,561 shares of the company's stock after acquiring an additional 162,692 shares during the quarter. FMR LLC owned about 15.30% of Cars.com worth $165,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CARS. Pacer Advisors Inc. increased its holdings in Cars.com by 62,357.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company's stock worth $41,798,000 after purchasing an additional 2,489,939 shares in the last quarter. American Century Companies Inc. increased its holdings in Cars.com by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 1,078,757 shares of the company's stock worth $21,252,000 after purchasing an additional 175,094 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cars.com by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 804,483 shares of the company's stock worth $13,483,000 after purchasing an additional 17,501 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Cars.com by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 596,327 shares of the company's stock worth $11,748,000 after purchasing an additional 20,463 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Cars.com by 23.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 526,643 shares of the company's stock worth $10,375,000 after purchasing an additional 101,000 shares in the last quarter. 89.15% of the stock is currently owned by institutional investors.

Cars.com Stock Up 0.8 %

NYSE:CARS traded up $0.15 on Wednesday, hitting $20.10. The stock had a trading volume of 656,524 shares, compared to its average volume of 492,343. The business's fifty day moving average is $17.24 and its 200 day moving average is $18.22. The company has a market cap of $1.30 billion, a PE ratio of 34.65 and a beta of 2.12. 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 Inc. has a 52 week low of $15.05 and a 52 week high of $21.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARS shares. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of Cars.com in a research note on Wednesday, November 13th. B. Riley decreased their price target on Cars.com from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, August 9th. UBS Group increased their price target on Cars.com from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Cars.com from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, November 8th.

Insiders Place Their Bets

In other news, Director Jill A. Greenthal sold 4,524 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total value of $89,846.64. Following the transaction, the director now owns 101,963 shares in the company, valued at $2,024,985.18. This trade represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sonia Jain sold 24,971 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total value of $492,927.54. Following the completion of the transaction, the chief financial officer now owns 229,229 shares in the company, valued at $4,524,980.46. This represents a 9.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.12% of the company's stock.

Cars.com 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.