CarGurus Sees Unusually High Options Volume (NASDAQ:CARG)
CarGurus Inc (NASDAQ:CARG) saw unusually large options trading on Friday. Stock investors bought 20,976 call options on the stock. This is an increase of approximately 2,512% compared to the average daily volume of 803 call options.
In other news, COO Samuel Zales sold 18,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $35.13, for a total transaction of $632,340.00. Following the completion of the transaction, the chief operating officer now owns 185,388 shares of the company’s stock, valued at $6,512,680.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Langley Steinert sold 36,016 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.98, for a total value of $1,295,855.68. Following the transaction, the chief executive officer now directly owns 2,185,110 shares of the company’s stock, valued at approximately $78,620,257.80. The disclosure for this sale can be found here. Insiders have sold 401,268 shares of company stock valued at $12,752,416 in the last three months. 34.51% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. purchased a new stake in CarGurus in the fourth quarter worth approximately $88,000. Nuveen Asset Management LLC boosted its stake in CarGurus by 42.4% in the fourth quarter. Nuveen Asset Management LLC now owns 803,933 shares of the company’s stock worth $28,282,000 after buying an additional 239,231 shares in the last quarter. Norges Bank purchased a new stake in CarGurus in the fourth quarter worth approximately $16,632,000. Geode Capital Management LLC boosted its stake in CarGurus by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 1,124,637 shares of the company’s stock worth $39,564,000 after buying an additional 33,722 shares in the last quarter. Finally, Algert Global LLC boosted its stake in CarGurus by 59.9% in the fourth quarter. Algert Global LLC now owns 65,267 shares of the company’s stock worth $2,296,000 after buying an additional 24,449 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.
CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The business had revenue of $158.15 million during the quarter, compared to analyst estimates of $154.80 million. CarGurus had a return on equity of 17.62% and a net margin of 7.16%. On average, equities analysts anticipate that CarGurus will post 0.31 earnings per share for the current year.
Several brokerages have recently commented on CARG. SunTrust Banks cut their price objective on CarGurus from $55.00 to $41.00 and set a “buy” rating for the company in a report on Monday, February 24th. Royal Bank of Canada reissued a “buy” rating and set a $34.00 price objective on shares of CarGurus in a report on Wednesday, February 19th. BidaskClub raised CarGurus from a “strong sell” rating to a “sell” rating in a report on Friday. Benchmark cut their price objective on CarGurus from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of CarGurus in a report on Sunday, February 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $37.25.
CarGurus Company Profile
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.
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