Fort Washington Investment Advisors Inc. OH Has $41.13 Million Holdings in CarGurus, Inc. $CARG

Fort Washington Investment Advisors Inc. OH increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,104,847 shares of the company’s stock after acquiring an additional 102,151 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 1.11% of CarGurus worth $41,133,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in CarGurus by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock worth $64,093,000 after purchasing an additional 6,676 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of CarGurus during the third quarter worth about $70,856,000. Invesco Ltd. grew its holdings in shares of CarGurus by 6.9% during the second quarter. Invesco Ltd. now owns 1,717,321 shares of the company’s stock worth $57,479,000 after buying an additional 110,452 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of CarGurus by 22.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,699,910 shares of the company’s stock worth $56,896,000 after buying an additional 311,287 shares in the last quarter. Finally, Boston Partners raised its position in CarGurus by 26.2% in the 2nd quarter. Boston Partners now owns 1,109,048 shares of the company’s stock valued at $36,845,000 after buying an additional 230,492 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Ismail Elshareef sold 1,228 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.98, for a total value of $42,955.44. Following the completion of the sale, the insider directly owned 95,907 shares in the company, valued at approximately $3,354,826.86. This trade represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the transaction, the chief operating officer owned 410,259 shares of the company’s stock, valued at $14,350,859.82. The trade was a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,226 shares of company stock valued at $2,826,351 in the last 90 days. 17.20% of the stock is owned by company insiders.

CarGurus Trading Down 0.2%

NASDAQ:CARG opened at $38.58 on Tuesday. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $41.33. The firm has a fifty day simple moving average of $36.14 and a 200 day simple moving average of $34.84. The stock has a market capitalization of $3.68 billion, a PE ratio of 26.24, a P/E/G ratio of 1.79 and a beta of 1.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm had revenue of $238.70 million for the quarter, compared to analyst estimates of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. On average, equities analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Citigroup boosted their price objective on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. UBS Group lifted their price target on shares of CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a research report on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, CarGurus currently has a consensus rating of “Hold” and an average price target of $40.41.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.