Capstone Investment Advisors LLC Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Capstone Investment Advisors LLC bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the 1st quarter, HoldingsChannel.com reports. The fund bought 56,978 shares of the company’s stock, valued at approximately $1,315,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of CarGurus in the fourth quarter worth about $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CarGurus by 10.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock valued at $437,000 after purchasing an additional 1,653 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of CarGurus by 0.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 295,634 shares of the company’s stock valued at $6,823,000 after purchasing an additional 1,904 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of CarGurus by 4.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 52,103 shares of the company’s stock worth $1,259,000 after purchasing an additional 2,260 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in CarGurus by 87.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock worth $133,000 after acquiring an additional 2,568 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CARG shares. UBS Group raised their target price on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. upped their target price on CarGurus from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, May 10th. JMP Securities upgraded shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Friday, June 7th. Royal Bank of Canada boosted their price target on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Citigroup raised their price objective on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.55.

CarGurus Stock Up 2.5 %

Shares of NASDAQ CARG traded up $0.60 during trading on Friday, reaching $24.93. The company had a trading volume of 648,654 shares, compared to its average volume of 840,917. The business’s 50-day moving average is $24.38 and its 200 day moving average is $23.57. The stock has a market cap of $2.60 billion, a PE ratio of 89.04, a P/E/G ratio of 1.41 and a beta of 1.57. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $26.90.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.29 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. On average, analysts anticipate that CarGurus, Inc. will post 0.98 earnings per share for the current year.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 17,668 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $24.73, for a total transaction of $436,929.64. Following the sale, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $13,572,936.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 6,680 shares of CarGurus stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the completion of the sale, the general counsel now owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $24.73, for a total transaction of $436,929.64. Following the sale, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $13,572,936.85. The disclosure for this sale can be found here. Insiders sold a total of 75,994 shares of company stock worth $1,831,470 in the last three months. Insiders own 17.20% of the company’s stock.

About CarGurus

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.