Great Lakes Advisors LLC Cuts Stock Holdings in CarGurus, Inc. $CARG

Great Lakes Advisors LLC reduced its stake in CarGurus, Inc. (NASDAQ:CARG) by 48.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,277 shares of the company’s stock after selling 114,669 shares during the period. Great Lakes Advisors LLC’s holdings in CarGurus were worth $4,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in CarGurus by 20.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,864 shares of the company’s stock worth $69,000 after purchasing an additional 321 shares during the period. QRG Capital Management Inc. grew its position in shares of CarGurus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 8,116 shares of the company’s stock worth $272,000 after buying an additional 332 shares in the last quarter. GAMMA Investing LLC grew its position in shares of CarGurus by 8.7% during the third quarter. GAMMA Investing LLC now owns 4,535 shares of the company’s stock worth $169,000 after buying an additional 363 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of CarGurus by 71.1% during the third quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock worth $40,000 after buying an additional 443 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in CarGurus by 30.7% in the second quarter. Parkside Financial Bank & Trust now owns 2,023 shares of the company’s stock valued at $68,000 after acquiring an additional 475 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CarGurus

In related news, CEO Jason Trevisan sold 16,548 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $39.02, for a total transaction of $645,702.96. Following the transaction, the chief executive officer owned 630,483 shares in the company, valued at $24,601,446.66. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on 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 directly owned 410,259 shares in the company, valued at approximately $14,350,859.82. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,586 shares of company stock valued at $2,198,264 in the last 90 days. Company insiders own 16.99% of the company’s stock.

CarGurus Price Performance

Shares of NASDAQ:CARG opened at $32.40 on Friday. The company’s fifty day moving average price is $36.55 and its 200 day moving average price is $35.28. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $40.69. The firm has a market capitalization of $3.09 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.35 and a beta of 1.36.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $238.70 million during the quarter, compared to the consensus estimate of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. CarGurus’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter 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, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CARG shares. DA Davidson set a $37.50 price target on shares of CarGurus in a report on Monday, November 17th. BTIG Research boosted their target price on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Zacks Research cut CarGurus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. lifted their price target on CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, UBS Group upped their price objective on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, CarGurus has a consensus rating of “Hold” and a consensus price target of $40.86.

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.