OMERS ADMINISTRATION Corp Acquires Shares of 35,200 TrueCar, Inc. (TRUE)
OMERS ADMINISTRATION Corp bought a new stake in shares of TrueCar, Inc. (NASDAQ:TRUE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 35,200 shares of the technology company’s stock, valued at approximately $545,000.
Other large investors have also recently modified their holdings of the company. First Mercantile Trust Co. purchased a new stake in shares of TrueCar during the first quarter valued at approximately $141,000. Trexquant Investment LP purchased a new stake in shares of TrueCar during the fourth quarter valued at approximately $161,000. Sei Investments Co. purchased a new stake in shares of TrueCar during the first quarter valued at approximately $167,000. Strategic Investment Management LLC purchased a new stake in shares of TrueCar during the fourth quarter valued at approximately $168,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of TrueCar during the fourth quarter valued at approximately $275,000. Institutional investors own 83.51% of the company’s stock.
Shares of TrueCar, Inc. (NASDAQ:TRUE) traded up 0.53% during mid-day trading on Friday, reaching $18.85. The company’s stock had a trading volume of 2,106,635 shares. The firm’s market cap is $1.75 billion. TrueCar, Inc. has a 12 month low of $7.06 and a 12 month high of $19.64. The company has a 50-day moving average of $17.90 and a 200-day moving average of $14.84.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. TrueCar had a negative return on equity of 13.82% and a negative net margin of 12.64%. The firm had revenue of $75.80 million for the quarter, compared to analyst estimates of $73.34 million. During the same period last year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts predict that TrueCar, Inc. will post ($0.02) earnings per share for the current year.
Several research analysts recently issued reports on the stock. TheStreet upgraded shares of TrueCar from a “d” rating to a “c” rating in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of TrueCar from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Friday, May 5th. Loop Capital reiterated a “buy” rating and set a $18.00 price target on shares of TrueCar in a research report on Tuesday, March 28th. Cowen and Company upped their price target on shares of TrueCar from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 25th. Finally, B. Riley reiterated a “buy” rating and set a $21.50 price target on shares of TrueCar in a research report on Sunday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. TrueCar has a consensus rating of “Buy” and a consensus price target of $16.59.
In other news, insider Ii L.P. Upfront sold 1,725,000 shares of TrueCar stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $15.72, for a total transaction of $27,117,000.00. Following the sale, the insider now directly owns 3,865,651 shares of the company’s stock, valued at $60,768,033.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Dietz sold 1,320,692 shares of TrueCar stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $16.50, for a total value of $21,791,418.00. The disclosure for this sale can be found here. Insiders have sold 6,178,035 shares of company stock worth $100,592,078 over the last three months. Insiders own 17.30% of the company’s stock.
TrueCar Company Profile
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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