Voloridge Investment Management LLC Has $1.79 Million Holdings in CarGurus, Inc. (NASDAQ:CARG)


Share on StockTwits

Voloridge Investment Management LLC cut its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 62.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,279 shares of the company’s stock after selling 93,992 shares during the quarter. Voloridge Investment Management LLC’s holdings in CarGurus were worth $1,786,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CARG. Advisory Services Network LLC lifted its holdings in shares of CarGurus by 2,456.3% during the fourth quarter. Advisory Services Network LLC now owns 1,227 shares of the company’s stock worth $39,000 after buying an additional 1,179 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of CarGurus during the fourth quarter worth approximately $66,000. Panagora Asset Management Inc. bought a new stake in shares of CarGurus during the fourth quarter valued at approximately $73,000. Strs Ohio increased its position in shares of CarGurus by 73.3% during the fourth quarter. Strs Ohio now owns 2,600 shares of the company’s stock valued at $82,000 after purchasing an additional 1,100 shares during the period. Finally, Atlas Private Wealth Management bought a new stake in shares of CarGurus during the fourth quarter valued at approximately $140,000. Institutional investors own 79.44% of the company’s stock.

NASDAQ:CARG opened at $24.18 on Thursday. CarGurus, Inc. has a 1-year low of $17.88 and a 1-year high of $36.54. The business’s 50-day moving average price is $25.63 and its two-hundred day moving average price is $26.65. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 1.65 and a beta of 1.99.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Wednesday, February 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.13. CarGurus had a return on equity of 24.71% and a net margin of 11.75%. The company had revenue of $151.55 million during the quarter, compared to the consensus estimate of $148.63 million. As a group, sell-side analysts expect that CarGurus, Inc. will post 0.65 EPS for the current year.

A number of research firms have recently issued reports on CARG. BTIG Research boosted their price objective on CarGurus from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, December 14th. They noted that the move was a valuation call. The Goldman Sachs Group increased their target price on CarGurus from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 25th. Needham & Company LLC restated a “hold” rating on shares of CarGurus in a report on Friday, February 12th. DA Davidson cut CarGurus from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $33.00 in a report on Friday, February 12th. Finally, Jefferies Financial Group decreased their target price on CarGurus from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, March 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. CarGurus has an average rating of “Hold” and a consensus target price of $31.75.

In other CarGurus news, COO Samuel Zales sold 8,000 shares of the stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $32.66, for a total value of $261,280.00. Following the completion of the sale, the chief operating officer now directly owns 240,365 shares in the company, valued at $7,850,320.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.43% of the stock is owned by corporate insiders.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

Further Reading: Beta

Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.