Citigroup Inc. Buys Shares of 57,770 Cars.com Inc (CARS)
Citigroup Inc. bought a new stake in shares of Cars.com Inc (NASDAQ:CARS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 57,770 shares of the company’s stock, valued at approximately $1,538,000. Citigroup Inc. owned about 0.08% of Cars.com as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Regentatlantic Capital LLC purchased a new position in Cars.com in the 2nd quarter worth $557,000. Russell Investments Group Ltd. bought a new stake in Cars.com in the second quarter worth $4,787,000. Acadian Asset Management LLC bought a new stake in Cars.com in the second quarter worth $6,405,000. ING Groep NV bought a new stake in Cars.com in the second quarter worth $239,000. Finally, Strs Ohio bought a new stake in Cars.com in the second quarter worth $585,000.
Several analysts have issued reports on CARS shares. B. Riley started coverage on shares of Cars.com in a research report on Wednesday. They set a “buy” rating and a $36.00 price target for the company. Craig Hallum started coverage on Cars.com in a research note on Thursday, July 20th. They set a “hold” rating and a $25.00 price objective on the stock. Finally, Barrington Research started coverage on Cars.com in a report on Tuesday, June 6th. They issued an “outperform” rating on the stock.
Cars.com Inc (NASDAQ:CARS) opened at 26.61 on Monday. The company has a market capitalization of $1.90 billion and a price-to-earnings ratio of 12.52. Cars.com Inc has a 52-week low of $19.90 and a 52-week high of $29.47. The company’s 50-day moving average price is $25.48 and its 200 day moving average price is $25.70.
Cars.com (NASDAQ:CARS) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.40. The firm had revenue of $156.62 million during the quarter, compared to the consensus estimate of $157.00 million. Cars.com had a net margin of 15.84% and a return on equity of 5.13%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. On average, equities analysts expect that Cars.com Inc will post $1.35 EPS for the current fiscal year.
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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