Cars.com Inc. (NYSE:CARS) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 782,425 shares of the company's stock after buying an additional 130,325 shares during the quarter. Renaissance Technologies LLC owned about 1.21% of Cars.com worth $13,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in Cars.com by 17.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 351,438 shares of the company's stock worth $6,090,000 after purchasing an additional 51,933 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Cars.com by 26.4% in the 4th quarter. Wells Fargo & Company MN now owns 39,423 shares of the company's stock worth $683,000 after acquiring an additional 8,237 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new position in shares of Cars.com during the 4th quarter worth approximately $1,081,000. Villanova Investment Management Co LLC acquired a new stake in Cars.com in the 4th quarter valued at approximately $3,890,000. Finally, Trexquant Investment LP acquired a new stake in Cars.com in the 4th quarter valued at approximately $2,475,000. Institutional investors and hedge funds own 89.15% of the company's stock.

Cars.com Stock Up 1.3 %

Shares of CARS stock traded up $0.15 during trading hours on Friday, reaching $11.30. 500,355 shares of the stock were exchanged, compared to its average volume of 608,006. The business's fifty day moving average is $12.82 and its two-hundred day moving average is $15.90. The firm has a market capitalization of $721.15 million, a P/E ratio of 19.47 and a beta of 1.92. Cars.com Inc. has a 12-month low of $9.87 and a 12-month high of $21.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CARS shares. UBS Group lowered their price target on Cars.com from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. DA Davidson lowered their target price on Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a report on Friday, February 28th. Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of Cars.com in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cars.com currently has an average rating of "Moderate Buy" and an average target price of $18.50.

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.