8,029,259 Shares in Cars.com Inc (CARS) Acquired by BlackRock Inc.
BlackRock Inc. purchased a new stake in Cars.com Inc (NASDAQ:CARS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,029,259 shares of the company’s stock, valued at approximately $213,818,000. BlackRock Inc. owned approximately 11.22% of Cars.com as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently modified their holdings of CARS. First Personal Financial Services purchased a new stake in shares of Cars.com in the 2nd quarter valued at approximately $118,000. First Mercantile Trust Co. purchased a new stake in shares of Cars.com in the 2nd quarter valued at approximately $132,000. AT Bancorp purchased a new stake in shares of Cars.com in the 2nd quarter valued at approximately $168,000. Commonwealth Bank of Australia purchased a new stake in shares of Cars.com in the 2nd quarter valued at approximately $170,000. Finally, ING Groep NV purchased a new stake in shares of Cars.com in the 2nd quarter valued at approximately $239,000.
Several equities research analysts recently commented on CARS shares. Craig Hallum started coverage on shares of Cars.com in a research report on Thursday, July 20th. They issued a “hold” rating and a $25.00 price target for the company. B. Riley started coverage on shares of Cars.com in a research report on Monday, October 2nd. They issued a “buy” rating and a $36.00 price target for the company.
Cars.com Inc (CARS) opened at 28.71 on Friday. The firm has a market cap of $2.06 billion and a price-to-earnings ratio of 13.50. The firm has a 50-day moving average of $26.32 and a 200 day moving average of $25.88. Cars.com Inc has a 1-year low of $22.95 and a 1-year high of $29.47.
Cars.com (NASDAQ:CARS) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.40. Cars.com had a net margin of 15.84% and a return on equity of 5.13%. The firm had revenue of $156.62 million for the quarter, compared to analyst estimates of $157.00 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up .0% on a year-over-year basis. Analysts expect that Cars.com Inc will post $1.35 earnings per share for the current fiscal year.
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Cars.com Company Profile
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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