Nordea Investment Management AB Acquires 74,133 Shares of Cars.com Inc. (NYSE:CARS)

Nordea Investment Management AB raised its position in Cars.com Inc. (NYSE:CARS - Free Report) by 35.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 280,475 shares of the company's stock after buying an additional 74,133 shares during the period. Nordea Investment Management AB owned about 0.43% of Cars.com worth $4,939,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARS. Point72 Asia Singapore Pte. Ltd. bought a new position in Cars.com in the second quarter valued at approximately $38,000. Advisors Asset Management Inc. boosted its position in shares of Cars.com by 145.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company's stock worth $53,000 after purchasing an additional 1,864 shares during the last quarter. CWM LLC boosted its position in shares of Cars.com by 62.4% in the 3rd quarter. CWM LLC now owns 3,569 shares of the company's stock worth $60,000 after purchasing an additional 1,372 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Cars.com during the third quarter worth $171,000. Finally, Point72 DIFC Ltd bought a new stake in Cars.com in the second quarter valued at about $180,000. 89.15% of the stock is owned by institutional investors and hedge funds.

Cars.com Stock Down 0.2 %

Shares of NYSE:CARS traded down $0.04 during mid-day trading on Friday, reaching $16.82. 434,449 shares of the stock were exchanged, compared to its average volume of 443,308. The stock's 50 day simple moving average is $18.25 and its 200-day simple moving average is $17.86. Cars.com Inc. has a one year low of $15.05 and a one year high of $21.24. The company has a market cap of $1.09 billion, a P/E ratio of 29.00 and a beta of 2.15. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Jill A. Greenthal sold 4,524 shares of the 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 completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sonia Jain sold 24,971 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total transaction of $492,927.54. Following 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 ownership of the stock. The disclosure for this sale can be found here. 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.