Scalar Gauge Management LLC Takes $4.02 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Scalar Gauge Management LLC bought a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 110,000 shares of the company's stock, valued at approximately $4,019,000. CarGurus accounts for about 1.9% of Scalar Gauge Management LLC's holdings, making the stock its 17th biggest position. Scalar Gauge Management LLC owned 0.11% of CarGurus as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC grew its position in CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp raised its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus in the 3rd quarter valued at approximately $28,000. Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in CarGurus in the fourth quarter worth about $35,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Trading Down 4.3 %

CarGurus stock traded down $1.16 during midday trading on Friday, reaching $26.06. 577,759 shares of the stock traded hands, compared to its average volume of 826,206. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33. The company has a 50-day simple moving average of $34.17 and a two-hundred day simple moving average of $34.30. The firm has a market cap of $2.72 billion, a PE ratio of 144.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million for the quarter, compared to analysts' expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CARG shares. JMP Securities restated a "market outperform" rating and set a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Oppenheimer cut their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.75.

Insider Activity

In other CarGurus news, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares of the company's stock, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,203 shares of company stock worth $1,158,978. Corporate 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.