Mackenzie Financial Corp Has $829,000 Holdings in CarGurus, Inc. (NASDAQ:CARG)

Mackenzie Financial Corp trimmed its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 43.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,635 shares of the company's stock after selling 24,716 shares during the period. Mackenzie Financial Corp's holdings in CarGurus were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CARG. Pale Fire Capital SE purchased a new position in CarGurus in the fourth quarter valued at about $1,800,000. UniSuper Management Pty Ltd purchased a new position in CarGurus in the first quarter valued at about $483,000. Capstone Investment Advisors LLC purchased a new position in CarGurus in the first quarter valued at about $1,315,000. Jennison Associates LLC purchased a new position in CarGurus in the first quarter valued at about $707,000. Finally, Swedbank AB purchased a new position in CarGurus in the first quarter valued at about $1,352,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Stock Performance

Shares of CARG traded up $0.24 during trading hours on Friday, hitting $29.29. 288,196 shares of the company were exchanged, compared to its average volume of 865,071. The firm's 50 day moving average is $27.76 and its 200-day moving average is $25.36. CarGurus, Inc. has a 52 week low of $16.70 and a 52 week high of $30.99. The company has a market cap of $3.05 billion, a PE ratio of 104.61, a PEG ratio of 1.45 and a beta of 1.56.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The firm had revenue of $218.69 million during the quarter, compared to the consensus estimate of $214.85 million. As a group, equities analysts forecast that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of recent research reports. JMP Securities restated a "market outperform" rating and issued a $32.00 target price on shares of CarGurus in a research note on Monday, September 9th. DA Davidson restated a "neutral" rating and issued a $26.50 target price on shares of CarGurus in a research note on Tuesday, September 10th. Oppenheimer boosted their target price on CarGurus from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price target on CarGurus from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, August 12th. Finally, Citigroup upped their price target on CarGurus from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.35.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the sale, the chief operating officer now owns 488,083 shares in the company, valued at $12,929,318.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total value of $666,700.32. Following the completion of the transaction, the chief operating officer now owns 488,083 shares of the company's stock, valued at $12,929,318.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Dafna Sarnoff sold 4,127 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the transaction, the chief marketing officer now directly owns 119,330 shares of the company's stock, valued at approximately $3,572,740.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,065 shares of company stock worth $1,694,683 in the last 90 days. 17.20% of the stock is owned by company insiders.

CarGurus Company 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.