Boston Partners Sells 339,938 Shares of Cars.com Inc. $CARS

Boston Partners trimmed its stake in Cars.com Inc. (NYSE:CARS) by 32.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 719,437 shares of the company’s stock after selling 339,938 shares during the quarter. Boston Partners’ holdings in Cars.com were worth $8,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Nordea Investment Management AB raised its position in shares of Cars.com by 33.7% in the 2nd quarter. Nordea Investment Management AB now owns 557,299 shares of the company’s stock worth $6,626,000 after purchasing an additional 140,493 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Cars.com by 13.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 398,000 shares of the company’s stock valued at $4,485,000 after purchasing an additional 46,562 shares in the last quarter. Mackenzie Financial Corp increased its stake in Cars.com by 59.2% during the 1st quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock valued at $618,000 after purchasing an additional 20,376 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in Cars.com by 10.9% in the second quarter. Peregrine Capital Management LLC now owns 321,989 shares of the company’s stock worth $3,816,000 after buying an additional 31,548 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Cars.com by 71.3% in the first quarter. Cubist Systematic Strategies LLC now owns 102,416 shares of the company’s stock worth $1,154,000 after buying an additional 42,641 shares in the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Cars.com Price Performance

NYSE CARS opened at $11.56 on Friday. The stock has a market capitalization of $691.14 million, a price-to-earnings ratio of 18.64 and a beta of 1.74. Cars.com Inc. has a 1-year low of $9.56 and a 1-year high of $20.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. The business’s fifty day moving average price is $11.77 and its 200-day moving average price is $11.81.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The firm had revenue of $181.57 million for the quarter, compared to analysts’ expectations of $181.37 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that Cars.com Inc. will post 1.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CARS shares. JPMorgan Chase & Co. increased their price target on shares of Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Zacks Research cut Cars.com from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. B. Riley reissued a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Cars.com in a report on Friday, August 8th. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a research note on Monday, November 3rd. Finally, Wall Street Zen raised Cars.com from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cars.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.90.

About Cars.com

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.