CarGurus, Inc. (CARG) Short Interest Up 79.9% in November
CarGurus, Inc. (NASDAQ:CARG) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 3,246,967 shares, a growth of 79.9% from the November 15th total of 1,805,360 shares. Based on an average daily volume of 278,686 shares, the short-interest ratio is currently 11.7 days. Approximately 9.3% of the company’s shares are sold short.
Shares of CarGurus (CARG) opened at $29.46 on Thursday. CarGurus has a 1-year low of $25.85 and a 1-year high of $35.42.
CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Tuesday, November 14th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $83.00 million for the quarter, compared to analyst estimates of $79.23 million. The company’s quarterly revenue was up 56.3% on a year-over-year basis. equities research analysts predict that CarGurus will post 0.11 EPS for the current year.
In related news, VP Oliver Ian Chrzan sold 270,793 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $14.88, for a total value of $4,029,399.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Langley Steinert sold 3,390,524 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $14.88, for a total value of $50,450,997.12. The disclosure for this sale can be found here. Insiders sold 5,454,188 shares of company stock valued at $81,158,317 over the last 90 days.
CARG has been the subject of a number of recent analyst reports. Goldman Sachs Group initiated coverage on CarGurus in a report on Monday, November 6th. They set a “neutral” rating and a $25.00 price target for the company. JMP Securities initiated coverage on CarGurus in a report on Monday, November 6th. They set a “market perform” rating for the company. Royal Bank of Canada initiated coverage on CarGurus in a report on Monday, November 6th. They set a “sector perform” rating and a $33.00 price target for the company. Raymond James Financial initiated coverage on CarGurus in a report on Monday, November 6th. They set a “market perform” rating for the company. Finally, William Blair initiated coverage on CarGurus in a report on Monday, November 6th. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.50.
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CarGurus Company Profile
CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.
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