Russell Investments Group Ltd. Sells 49,298 Shares of Cars.com Inc. (NYSE:CARS)

Russell Investments Group Ltd. reduced its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,462 shares of the company's stock after selling 49,298 shares during the period. Russell Investments Group Ltd. owned approximately 0.60% of Cars.com worth $6,749,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in Cars.com by 193.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock worth $29,000 after acquiring an additional 1,079 shares during the period. KBC Group NV increased its holdings in shares of Cars.com by 68.2% in the fourth quarter. KBC Group NV now owns 3,885 shares of the company's stock worth $67,000 after purchasing an additional 1,575 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Cars.com by 41.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company's stock worth $89,000 after buying an additional 1,516 shares in the last quarter. Principal Securities Inc. boosted its stake in Cars.com by 22.1% during the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company's stock valued at $152,000 after buying an additional 1,592 shares during the period. Finally, Vestcor Inc purchased a new position in Cars.com during the fourth quarter worth about $156,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARS has been the topic of several recent analyst reports. DA Davidson lowered their price target on Cars.com from $21.00 to $14.50 and set a "buy" rating on the stock in a report on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Cars.com in a research note on Tuesday, March 4th. UBS Group cut their price target on shares of Cars.com from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cars.com from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cars.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

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Cars.com Stock Down 0.6 %

Shares of CARS opened at $11.28 on Monday. Cars.com Inc. has a 1 year low of $9.87 and a 1 year 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. The stock has a 50 day simple moving average of $13.31 and a two-hundred day simple moving average of $16.04. The firm has a market cap of $720.00 million, a P/E ratio of 19.44 and a beta of 1.92.

Cars.com Company 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.

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