Cars.com Inc. (NYSE:CARS) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. trimmed its stake in Cars.com Inc. (NYSE:CARS - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 420,433 shares of the company's stock after selling 250,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.65% of Cars.com worth $7,286,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Cars.com by 35.9% during the fourth quarter. Nordea Investment Management AB now owns 280,475 shares of the company's stock valued at $4,939,000 after acquiring an additional 74,133 shares during the period. Smartleaf Asset Management LLC grew its position in Cars.com by 193.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock valued at $29,000 after acquiring an additional 1,079 shares during the period. Victory Capital Management Inc. grew its position in Cars.com by 130.9% during the third quarter. Victory Capital Management Inc. now owns 46,344 shares of the company's stock valued at $777,000 after acquiring an additional 26,276 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Cars.com by 60.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 18,229 shares of the company's stock valued at $316,000 after acquiring an additional 6,855 shares during the period. Finally, FMR LLC grew its position in Cars.com by 1.7% during the third quarter. FMR LLC now owns 9,902,561 shares of the company's stock valued at $165,967,000 after acquiring an additional 162,692 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.

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Cars.com Stock Up 1.9 %

Shares of CARS traded up $0.21 during midday trading on Friday, reaching $11.61. 2,722,746 shares of the company were exchanged, compared to its average volume of 542,891. The stock has a 50-day moving average price of $15.48 and a 200-day moving average price of $16.77. The company has a market cap of $741.39 million, a price-to-earnings ratio of 20.02 and a beta of 2.16. Cars.com Inc. has a 1-year low of $10.80 and a 1-year high of $21.24. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Cars.com from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Barrington Research reissued an "outperform" rating and set a $25.00 price target on shares of Cars.com in a research report on Tuesday, March 4th. Finally, DA Davidson reduced their price objective on Cars.com from $21.00 to $14.50 and set a "buy" rating on the stock in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $20.50.

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.