Mackenzie Financial Corp Buys 25,537 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Mackenzie Financial Corp lifted its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,911 shares of the technology company’s stock after purchasing an additional 25,537 shares during the period. Mackenzie Financial Corp owned 0.06% of TrueCar worth $193,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in TrueCar during the third quarter valued at $83,000. Principal Financial Group Inc. purchased a new stake in TrueCar in the 3rd quarter worth about $27,000. Boston Partners raised its stake in TrueCar by 20.9% in the 3rd quarter. Boston Partners now owns 184,751 shares of the technology company’s stock valued at $382,000 after acquiring an additional 31,898 shares during the period. Acadian Asset Management LLC lifted its holdings in TrueCar by 2.6% during the third quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company’s stock valued at $4,374,000 after purchasing an additional 53,889 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in TrueCar by 5.5% during the third quarter. SkyView Investment Advisors LLC now owns 127,658 shares of the technology company’s stock worth $264,000 after purchasing an additional 6,680 shares during the period. Institutional investors own 79.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $4.50 price target on shares of TrueCar in a research report on Wednesday, February 21st.

Insiders Place Their Bets

In related news, EVP Jeff Swart sold 15,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $3.45, for a total transaction of $51,750.00. Following the completion of the sale, the executive vice president now directly owns 325,044 shares in the company, valued at approximately $1,121,401.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.30% of the company’s stock.

TrueCar Stock Down 4.2 %

Shares of NASDAQ TRUE opened at $2.76 on Tuesday. The firm has a market capitalization of $252.73 million, a P/E ratio of -4.93 and a beta of 1.65. The stock’s 50-day simple moving average is $3.28 and its two-hundred day simple moving average is $3.08. TrueCar, Inc. has a twelve month low of $1.76 and a twelve month high of $4.05.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Tuesday, February 20th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. TrueCar had a negative net margin of 31.36% and a negative return on equity of 24.27%. The business had revenue of $41.29 million for the quarter, compared to the consensus estimate of $41.50 million. As a group, research analysts anticipate that TrueCar, Inc. will post -0.19 EPS for the current fiscal year.

About TrueCar

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.