TrueCar Inc (NASDAQ:TRUE) Shares Bought by Par Capital Management Inc.
Par Capital Management Inc. raised its position in TrueCar Inc (NASDAQ:TRUE) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,299,504 shares of the technology company’s stock after purchasing an additional 482,609 shares during the quarter. TrueCar comprises approximately 0.9% of Par Capital Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Par Capital Management Inc. owned 9.78% of TrueCar worth $56,235,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in TRUE. Advisory Services Network LLC acquired a new stake in shares of TrueCar in the second quarter valued at approximately $60,000. Stone Ridge Asset Management LLC acquired a new stake in shares of TrueCar in the second quarter valued at approximately $67,000. BNP Paribas Arbitrage SA increased its stake in shares of TrueCar by 1,117.5% in the first quarter. BNP Paribas Arbitrage SA now owns 21,441 shares of the technology company’s stock valued at $142,000 after purchasing an additional 19,680 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of TrueCar in the first quarter valued at approximately $156,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of TrueCar during the second quarter valued at approximately $196,000. Institutional investors own 90.71% of the company’s stock.
TrueCar stock traded down $0.21 during mid-day trading on Wednesday, hitting $3.74. The company’s stock had a trading volume of 44,455 shares, compared to its average volume of 1,161,722. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $422.07 million, a P/E ratio of -14.37 and a beta of 1.40. TrueCar Inc has a twelve month low of $3.01 and a twelve month high of $14.55. The stock’s fifty day moving average price is $4.16 and its two-hundred day moving average price is $5.64.
A number of research analysts recently commented on the stock. ValuEngine upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet lowered shares of TrueCar from a “c-” rating to a “d” rating in a research note on Thursday, August 8th. Zacks Investment Research lowered shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Needham & Company LLC assumed coverage on shares of TrueCar in a research note on Thursday, September 12th. They set a “hold” rating on the stock. Finally, Cowen set a $5.00 price objective on shares of TrueCar and gave the company a “hold” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. TrueCar currently has a consensus rating of “Hold” and a consensus target price of $8.71.
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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