Illinois Municipal Retirement Fund Purchases 2,260 Shares of CarGurus, Inc. (NASDAQ:CARG)

Illinois Municipal Retirement Fund increased its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,103 shares of the company’s stock after purchasing an additional 2,260 shares during the period. Illinois Municipal Retirement Fund’s holdings in CarGurus were worth $1,259,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of CarGurus by 12.0% during the fourth quarter. Raymond James & Associates now owns 452,182 shares of the company’s stock valued at $10,925,000 after buying an additional 48,389 shares during the period. Allspring Global Investments Holdings LLC grew its position in CarGurus by 207.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock valued at $7,097,000 after acquiring an additional 198,321 shares during the last quarter. Pacer Advisors Inc. increased its stake in CarGurus by 20.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock worth $48,164,000 after purchasing an additional 336,245 shares during the period. Cullinan Associates Inc. purchased a new stake in CarGurus in the fourth quarter worth $1,377,000. Finally, Nordea Investment Management AB lifted its position in shares of CarGurus by 42.0% during the fourth quarter. Nordea Investment Management AB now owns 309,651 shares of the company’s stock worth $7,503,000 after purchasing an additional 91,626 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the sale, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $11,756,259.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the transaction, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the sale, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CARG. UBS Group raised their price target on shares of CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Needham & Company LLC upped their target price on shares of CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. Finally, Oppenheimer boosted their price target on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.90.

CarGurus Stock Up 1.4 %

Shares of CARG stock opened at $23.22 on Friday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 129.00, a PEG ratio of 1.39 and a beta of 1.58. CarGurus, Inc. has a 52-week low of $15.34 and a 52-week high of $24.64. The company’s 50 day moving average is $22.86 and its 200 day moving average is $22.01.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The business’s revenue was down 22.2% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. Analysts anticipate that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.