Pacer Advisors Inc. Grows Stake in Cars.com Inc. (NYSE:CARS)

Pacer Advisors Inc. grew its holdings in Cars.com Inc. (NYSE:CARS) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,559,142 shares of the company’s stock after buying an additional 65,210 shares during the quarter. Pacer Advisors Inc. owned approximately 3.95% of Cars.com worth $44,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CARS. Envestnet Asset Management Inc. lifted its holdings in Cars.com by 40.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 232,721 shares of the company’s stock worth $4,585,000 after buying an additional 66,545 shares during the period. XTX Topco Ltd purchased a new stake in Cars.com in the 2nd quarter worth approximately $207,000. Cubist Systematic Strategies LLC purchased a new stake in Cars.com in the 2nd quarter worth approximately $2,843,000. Squarepoint Ops LLC lifted its holdings in Cars.com by 163.6% in the 2nd quarter. Squarepoint Ops LLC now owns 45,820 shares of the company’s stock worth $903,000 after buying an additional 117,820 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cars.com in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Insider Activity at Cars.com

In other news, Director Jill A. Greenthal sold 4,524 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total value of $89,846.64. Following the completion of the transaction, the director now owns 101,963 shares in the company, valued at $2,024,985.18. The trade was a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sonia Jain sold 24,971 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total value of $492,927.54. Following the completion of the transaction, the chief financial officer now owns 229,229 shares of the company’s stock, valued at $4,524,980.46. This represents a 9.82 % decrease in their position. The disclosure for this sale can be found here. 2.12% of the stock is owned by corporate insiders.

Cars.com Stock Up 3.0 %

CARS stock opened at $18.12 on Tuesday. Cars.com Inc. has a twelve month low of $15.05 and a twelve month high of $21.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1.17 billion, a PE ratio of 31.24 and a beta of 2.15. The business has a 50 day moving average of $18.14 and a 200 day moving average of $17.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CARS shares. JPMorgan Chase & Co. increased their price objective on Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Wednesday, November 13th. Finally, UBS Group increased their target price on Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th.

Cars.com Company Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.