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

Several hedge funds have recently changed their positions in CARS. Vanguard Group Inc. boosted its 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 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 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 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 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. 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. has a 12-month low of $8.75 and a 12-month high of $17.18. (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. 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 to post earnings of 0.28 per share for the current year.


(get rating) 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.

read more

This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to

Hear this before you consider

MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat has identified five stocks top analysts are quietly whispering to their clients to buy now before the broader market catches on…and isn’t on the list. did. is currently rated as a ‘moderate buy’ among analysts, but the top rated analysts believe these five stocks are better buys.

See 5 stocks here

About the author


Leave a Comment