Chicago Equity Partners LLC Sells 45,170 Shares of TrueCar, Inc. (TRUE)
Chicago Equity Partners LLC decreased its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 72.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,880 shares of the technology company’s stock after selling 45,170 shares during the period. Chicago Equity Partners LLC’s holdings in TrueCar were worth $336,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in TrueCar by 10.5% during the second quarter. Legal & General Group Plc now owns 19,734 shares of the technology company’s stock worth $389,000 after buying an additional 1,872 shares in the last quarter. Teachers Advisors LLC increased its position in TrueCar by 2.1% during the first quarter. Teachers Advisors LLC now owns 94,754 shares of the technology company’s stock worth $1,466,000 after buying an additional 1,932 shares in the last quarter. American International Group Inc. increased its position in TrueCar by 7.1% during the first quarter. American International Group Inc. now owns 33,469 shares of the technology company’s stock worth $518,000 after buying an additional 2,215 shares in the last quarter. Swiss National Bank increased its position in TrueCar by 3.3% during the first quarter. Swiss National Bank now owns 77,500 shares of the technology company’s stock worth $1,199,000 after buying an additional 2,500 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in TrueCar by 5.3% during the second quarter. Federated Investors Inc. PA now owns 50,258 shares of the technology company’s stock worth $1,002,000 after buying an additional 2,544 shares in the last quarter. 91.71% of the stock is owned by institutional investors.
Shares of TrueCar, Inc. (NASDAQ:TRUE) opened at 17.04 on Thursday. TrueCar, Inc. has a 12-month low of $8.23 and a 12-month high of $21.75. The stock’s 50 day moving average price is $17.41 and its 200 day moving average price is $17.23. The firm’s market cap is $1.68 billion.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $81.82 million for the quarter, compared to analysts’ expectations of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that TrueCar, Inc. will post $0.02 EPS for the current fiscal year.
In other TrueCar news, EVP Brian Skutta sold 117,410 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $17.01, for a total value of $1,997,144.10. Following the transaction, the executive vice president now owns 181,282 shares of the company’s stock, valued at $3,083,606.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ion Yadigaroglu sold 122,766 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $16.45, for a total value of $2,019,500.70. Following the completion of the transaction, the director now directly owns 19,539 shares in the company, valued at approximately $321,416.55. The disclosure for this sale can be found here. Insiders sold 1,993,801 shares of company stock worth $36,878,556 in the last ninety days. 15.50% of the stock is owned by corporate insiders.
TRUE has been the subject of several recent research reports. B. Riley reissued a “buy” rating and set a $21.50 price target on shares of TrueCar in a research report on Tuesday, June 20th. Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reissued an “underweight” rating and set a $13.00 price target (up previously from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price target on shares of TrueCar in a research report on Friday, August 4th. Finally, Cowen and Company reissued a “hold” rating and set a $15.00 price target on shares of TrueCar in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. TrueCar presently has a consensus rating of “Buy” and an average price target of $18.56.
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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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