Acadian Asset Management LLC Has $24.31 Million Stock Position in CarGurus, Inc. $CARG

Acadian Asset Management LLC lifted its stake in CarGurus, Inc. (NASDAQ:CARG) by 185.2% during the first quarter, Holdings Channel.com reports. The fund owned 835,244 shares of the company’s stock after buying an additional 542,382 shares during the period. Acadian Asset Management LLC’s holdings in CarGurus were worth $24,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of CarGurus in the first quarter valued at about $46,000. Signaturefd LLC increased its position in shares of CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company’s stock valued at $51,000 after acquiring an additional 799 shares during the last quarter. Blue Trust Inc. increased its position in shares of CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company’s stock valued at $73,000 after acquiring an additional 829 shares during the last quarter. Versant Capital Management Inc increased its position in CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company’s stock worth $76,000 after buying an additional 2,267 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in CarGurus during the first quarter worth approximately $76,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Gordon Haskett assumed coverage on CarGurus in a research report on Monday, July 14th. They set a “hold” rating and a $35.00 price target on the stock. JMP Securities reissued a “market perform” rating and set a $38.00 price target on shares of CarGurus in a research report on Wednesday, July 2nd. UBS Group boosted their price target on CarGurus from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Citigroup lowered their price target on CarGurus from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Finally, Needham & Company LLC boosted their price target on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, CarGurus presently has an average rating of “Hold” and a consensus target price of $38.46.

Insider Buying and Selling

In other news, CEO Zachary Emerson Hallowell sold 4,369 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $144,570.21. Following the transaction, the chief executive officer owned 121,584 shares of the company’s stock, valued at approximately $4,023,214.56. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total value of $338,800.00. Following the completion of the transaction, the chief operating officer directly owned 461,821 shares in the company, valued at $15,646,495.48. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,538 shares of company stock valued at $1,067,077 in the last ninety days. 16.99% of the stock is currently owned by company insiders.

CarGurus Trading Down 1.2%

CarGurus stock opened at $35.40 on Thursday. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $41.33. The stock’s 50 day moving average is $33.38 and its 200-day moving average is $31.38. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.70 and a beta of 1.54.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, August 7th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The company had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

About CarGurus

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.