CARS

Cars.com Inc. (NYSE:CARS) Sees Large Growth in Short Interest

Cars.com Inc. (NYSE:CARS – Get Rating) was the target of a significant rise in short-term interest rates in December. As of December 15, short sales totaled 2.14 million shares, up 13.8% from November 30’s total of 1.88 million shares. About 3.5% of the company’s shares have been sold short. Based on an average trading volume of 456,400 shares, the current short-term interest rate is 4.7 days.

Analyst sets new price target

Separately, DA Davidson lowered Cars.com’s price target from $18.00 to $17.50 and set a ‘buy’ rating for the company in its research notes on Friday, November 4th.

insider trading

In another Cars.com news, director Thomas E. Hale sold 4,064 shares in a transaction that took place on Wednesday, November 9th. The shares sold for an average of $14.52, giving him a total of $59,009.28. After the transaction, the directors now directly own 76,677 shares of the company, valued at $1,113,350.04. The sale is disclosed in legal documents to the Securities and Exchange Commission, which can be accessed on his website at the SEC. His 1.50% of the shares are owned by company insiders.

Institutional investors consider Cars.com

Several hedge funds have recently changed their positions in CARS. Vanguard Group Inc. boosted its Cars.com position by 0.9% in the third quarter. Vanguard Group Inc. now owns 7,214,841 shares worth $82,971,000 after acquiring an additional 61,764 shares during this period. FMR LLC held his 8.7% stake in Cars.com in the second quarter. FMR LLC now owns 4,283,964 shares of the company stock valued at $4,0398,000 after purchasing an additional 343,392 shares during this period. Dimensional Fund Advisors LP increased its Cars.com position by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,505,811 shares worth $50,591,000 after purchasing an additional 45,753 shares during the previous quarter. State Street Corp increased its Cars.com stake by 2.3% in the second quarter. State Street Corp owns 2,372,414 shares of the company worth $22,372,000 after purchasing an additional 53,295 shares during this period. Finally, JPMorgan Chase & Co. increased its position on Cars.com by 18.2% in the second quarter. JPMorgan Chase & Co. now owns 908,599 shares worth $8,569,000 after purchasing an additional 139,744 shares in the previous quarter. Institutional investors and hedge funds own 97.40% of the company’s shares.

Cars.com Stock Performance

NYSE CARS fell $0.03 on Monday to reach $13.77. The stock traded 13,904 shares with an average turnover of 458,814 shares. The company has a debt to equity ratio of 1.28, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $917.22 million, a P/E of 1,378.38 and a beta of 1.91. The business has a 50-day moving average price of $13.93 and a 200-day moving average price of $12.42. Cars.com has a 12-month low of $8.75 and a 12-month high of $17.18.

Cars.com (NYSE:CARS – Get Rating) last reported quarterly results on Thursday, November 3rd. The company reported his earnings per share ($0.04) for the quarter. This is ($0.18) above analyst consensus expectations of $0.14. Cars.com had a return on equity of 0.26% and a net profit margin of 0.15%. The business generated $164.6 million in revenue for the quarter, compared to analyst estimates of $164.16 million. As a group, equity analysts expect Cars.com to post earnings of 0.28 per share for the current year.

About Cars.com

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Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local auto dealers with US consumers. The company offers a suite of digital solutions that create connections between an individual researching a car or considering buying one from a car dealership or his OEM of cars.

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