Monimus Capital Management LP Purchases New Holdings in CarGurus, Inc. (NASDAQ:CARG)

Monimus Capital Management LP purchased a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,903 shares of the company's stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company's stock worth $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CarGurus by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company's stock valued at $61,728,000 after buying an additional 74,730 shares during the period. Prevatt Capital Ltd boosted its stake in shares of CarGurus by 7.0% in the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company's stock valued at $36,937,000 after buying an additional 80,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in CarGurus by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock worth $39,237,000 after acquiring an additional 30,593 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of CarGurus during the 3rd quarter worth $21,052,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARG has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Monday, February 24th. One investment 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. Based on data from MarketBeat.com, CarGurus presently has an average rating of "Buy" and a consensus price target of $39.55.

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CarGurus Stock Down 0.1 %

Shares of NASDAQ:CARG traded down $0.02 during midday trading on Wednesday, reaching $29.91. The company's stock had a trading volume of 1,838,171 shares, compared to its average volume of 775,991. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The business has a 50 day moving average price of $35.98 and a 200 day moving average price of $34.22. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 166.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG - Get Free Report) last issued 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). The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Sell-side analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares of the company's stock, valued at $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,888 shares of company stock valued at $2,229,388. Company insiders own 17.20% of the company's stock.

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.