TrueCar (TRUE) Downgraded by ValuEngine
ValuEngine lowered shares of TrueCar (NASDAQ:TRUE) from a sell rating to a strong sell rating in a research report sent to investors on Thursday.
TRUE has been the subject of several other reports. Zacks Investment Research upgraded TrueCar from a sell rating to a hold rating in a research note on Thursday, January 11th. Stephens set a $18.00 target price on TrueCar and gave the stock a buy rating in a research note on Friday, February 16th. B. Riley restated a buy rating and set a $18.00 target price (down from $21.00) on shares of TrueCar in a research note on Tuesday, November 7th. Finally, Royal Bank of Canada cut their target price on TrueCar from $23.00 to $18.00 and set an outperform rating for the company in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $17.56.
Shares of TrueCar (NASDAQ:TRUE) traded down $0.11 during mid-day trading on Thursday, hitting $10.83. The company had a trading volume of 25,318 shares, compared to its average volume of 1,893,042. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.31 and a quick ratio of 6.31. TrueCar has a fifty-two week low of $10.16 and a fifty-two week high of $21.75.
In other news, EVP Neeraj Gunsagar sold 10,443 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the transaction, the executive vice president now directly owns 254,144 shares in the company, valued at $2,866,744.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Pierantoni sold 2,494 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $11.29, for a total transaction of $28,157.26. Following the transaction, the senior vice president now owns 57,513 shares of the company’s stock, valued at $649,321.77. The disclosure for this sale can be found here. Insiders have sold 15,670 shares of company stock valued at $177,654 over the last 90 days. Corporate insiders own 15.50% of the company’s stock.
Several large investors have recently made changes to their positions in TRUE. FMR LLC acquired a new position in shares of TrueCar during the second quarter worth $6,701,000. Voya Investment Management LLC increased its holdings in shares of TrueCar by 16.0% during the second quarter. Voya Investment Management LLC now owns 28,365 shares of the technology company’s stock worth $565,000 after buying an additional 3,908 shares in the last quarter. State Street Corp increased its holdings in shares of TrueCar by 14.7% during the second quarter. State Street Corp now owns 1,151,554 shares of the technology company’s stock worth $22,952,000 after buying an additional 147,421 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of TrueCar by 15.6% during the second quarter. The Manufacturers Life Insurance Company now owns 49,418 shares of the technology company’s stock worth $984,000 after buying an additional 6,653 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of TrueCar by 3.6% during the second quarter. California State Teachers Retirement System now owns 110,902 shares of the technology company’s stock worth $2,210,000 after buying an additional 3,839 shares in the last quarter. Institutional investors own 89.55% of the company’s stock.
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TrueCar Company Profile
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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