SkyView Investment Advisors LLC Boosts Stock Position in TrueCar, Inc. (NASDAQ:TRUE)

SkyView Investment Advisors LLC raised its stake in TrueCar, Inc. (NASDAQ:TRUE) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,695 shares of the technology company’s stock after buying an additional 3,510 shares during the quarter. SkyView Investment Advisors LLC owned approximately 0.23% of TrueCar worth $703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in TrueCar by 0.3% in the second quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock valued at $6,647,000 after acquiring an additional 6,800 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in shares of TrueCar by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 253,474 shares of the technology company’s stock valued at $793,000 after purchasing an additional 7,088 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after purchasing an additional 8,027 shares during the period. Intech Investment Management LLC acquired a new stake in shares of TrueCar during the 3rd quarter worth about $36,000. Finally, American Century Companies Inc. raised its holdings in TrueCar by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 104,371 shares of the technology company’s stock valued at $327,000 after buying an additional 10,900 shares during the period. 79.44% of the stock is owned by institutional investors and hedge funds.

TrueCar Trading Down 4.1 %

Shares of TrueCar stock opened at $4.19 on Friday. TrueCar, Inc. has a 52 week low of $2.56 and a 52 week high of $4.62. The firm’s 50 day moving average is $3.96 and its two-hundred day moving average is $3.41.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $46.54 million for the quarter, compared to analyst estimates of $45.82 million. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. During the same quarter last year, the firm posted ($0.07) EPS. On average, sell-side analysts anticipate that TrueCar, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRUE. Lake Street Capital began coverage on TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of TrueCar in a report on Tuesday, November 26th. StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. B. Riley boosted their price target on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, BTIG Research raised their price objective on shares of TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

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.