Lord Abbett & CO. LLC Trims Position in Cars.com Inc. (NYSE:CARS)

Lord Abbett & CO. LLC decreased its position in Cars.com Inc. (NYSE:CARS - Free Report) by 25.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 359,786 shares of the company's stock after selling 125,003 shares during the period. Lord Abbett & CO. LLC owned about 0.56% of Cars.com worth $6,030,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Cars.com by 19.4% in the second quarter. American Century Companies Inc. now owns 1,078,757 shares of the company's stock valued at $21,252,000 after purchasing an additional 175,094 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Cars.com in the 3rd quarter valued at about $1,222,000. Victory Capital Management Inc. increased its stake in shares of Cars.com by 130.9% during the 3rd quarter. Victory Capital Management Inc. now owns 46,344 shares of the company's stock worth $777,000 after purchasing an additional 26,276 shares during the last quarter. CWM LLC raised its holdings in shares of Cars.com by 253.2% in the 2nd quarter. CWM LLC now owns 2,197 shares of the company's stock valued at $43,000 after purchasing an additional 1,575 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in Cars.com by 23.7% during the second 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 during the period. Institutional investors and hedge funds own 89.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Cars.com in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Cars.com from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, UBS Group increased their price objective on shares of Cars.com from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, November 8th.

Insider Buying and Selling

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

Cars.com Price Performance

CARS traded down $0.55 on Tuesday, hitting $18.15. 451,789 shares of the stock were exchanged, compared to its average volume of 491,765. The business has a 50-day moving average of $17.69 and a two-hundred day moving average of $18.22. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 32.24 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. Cars.com Inc. has a 12 month low of $15.05 and a 12 month high of $21.24.

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.