Cars.com Inc. (NYSE:CARS) Sees Significant Growth in Short Interest

Cars.com Inc. (NYSE:CARS - Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,750,000 shares, a growth of 14.4% from the December 31st total of 1,530,000 shares. Based on an average trading volume of 545,500 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.0% of the shares of the company are sold short.

Cars.com Price Performance

Cars.com stock traded down $0.18 during midday trading on Wednesday, reaching $17.60. 161,080 shares of the stock traded hands, compared to its average volume of 402,324. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com has a 12 month low of $15.05 and a 12 month high of $21.24. The stock's fifty day moving average is $18.03 and its 200-day moving average is $17.68. The stock has a market cap of $1.14 billion, a P/E ratio of 30.35 and a beta of 2.15.

Insider Transactions at Cars.com

In other Cars.com news, CFO Sonia Jain sold 24,971 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total value of $492,927.54. Following the sale, the chief financial officer now owns 229,229 shares of the company's stock, valued at $4,524,980.46. This trade represents a 9.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jill A. Greenthal sold 4,524 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the transaction, the director now owns 101,963 shares of the company's stock, valued at $2,024,985.18. This trade represents a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cars.com

A number of hedge funds have recently bought and sold shares of CARS. FMR LLC raised its position in Cars.com by 1.7% in the 3rd quarter. FMR LLC now owns 9,902,561 shares of the company's stock worth $165,967,000 after purchasing an additional 162,692 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Cars.com by 2.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,559,142 shares of the company's stock worth $44,350,000 after buying an additional 65,210 shares during the period. State Street Corp lifted its stake in shares of Cars.com by 0.6% during the 3rd quarter. State Street Corp now owns 2,419,422 shares of the company's stock worth $40,550,000 after acquiring an additional 15,038 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cars.com by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,312 shares of the company's stock valued at $24,513,000 after acquiring an additional 6,021 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Cars.com by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 804,483 shares of the company's stock worth $13,483,000 after acquiring an additional 17,501 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CARS. JPMorgan Chase & Co. boosted their target price on shares of Cars.com from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Friday, November 8th. UBS Group lifted their price target on shares of Cars.com from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $25.00 price target on shares of Cars.com in a research report on Tuesday, January 28th.

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.