Cars.com (NYSE:CARS) Sees Unusually-High Trading Volume

Cars.com Inc. (NYSE:CARS) shares saw unusually-high trading volume on Wednesday . Approximately 756,542 shares changed hands during trading, an increase of 109% from the previous session’s volume of 362,149 shares.The stock last traded at $16.80 and had previously closed at $16.70.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cars.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Cars.com Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $1.13 billion, a P/E ratio of 9.97 and a beta of 2.05. The stock has a 50-day moving average price of $17.33 and a 200-day moving average price of $17.81.

Cars.com (NYSE:CARS) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Cars.com had a return on equity of 25.78% and a net margin of 17.19%. The company had revenue of $179.60 million for the quarter, compared to the consensus estimate of $178.40 million. During the same quarter last year, the business earned $0.15 earnings per share. Cars.com’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts predict that Cars.com Inc. will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cars.com news, CEO Thomas Alex Vetter sold 17,666 shares of Cars.com stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $19.00, for a total value of $335,654.00. Following the completion of the sale, the chief executive officer now directly owns 568,885 shares in the company, valued at $10,808,815. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cars.com news, insider Douglas Neal Miller sold 1,823 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $18.50, for a total value of $33,725.50. Following the completion of the sale, the insider now owns 181,596 shares of the company’s stock, valued at $3,359,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Alex Vetter sold 17,666 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $19.00, for a total value of $335,654.00. Following the completion of the sale, the chief executive officer now directly owns 568,885 shares of the company’s stock, valued at approximately $10,808,815. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,488 shares of company stock worth $654,361. 1.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cars.com

Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Cars.com by 118.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,652 shares of the company’s stock worth $31,000 after buying an additional 896 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Cars.com by 103.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,073 shares of the company’s stock valued at $39,000 after purchasing an additional 1,056 shares during the period. Wolverine Asset Management LLC grew its stake in Cars.com by 109.1% in the 4th quarter. Wolverine Asset Management LLC now owns 3,749 shares of the company’s stock valued at $71,000 after purchasing an additional 45,000 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Cars.com in the 4th quarter valued at $119,000. Finally, Benjamin Edwards Inc. bought a new position in Cars.com in the 4th quarter valued at $144,000. Institutional investors and hedge funds own 89.15% of the company’s stock.

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.