Schwab Charles Investment Management Inc. Invests $9 Million in Cars.com Inc (CARS)
Schwab Charles Investment Management Inc. purchased a new position in shares of Cars.com Inc (NASDAQ:CARS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 338,047 shares of the company’s stock, valued at approximately $9,003,000. Schwab Charles Investment Management Inc. owned 0.47% of Cars.com at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Smead Capital Management Inc. bought a new position in Cars.com during the 2nd quarter worth approximately $31,485,000. Cubic Asset Management LLC bought a new position in Cars.com during the 2nd quarter worth approximately $990,000. Bodenholm Capital AB bought a new position in Cars.com during the 2nd quarter worth approximately $21,256,000. Public Employees Retirement Association of Colorado bought a new position in Cars.com during the 2nd quarter worth approximately $300,000. Finally, Reliance Trust Co. of Delaware bought a new position in Cars.com during the 2nd quarter worth approximately $243,000.
Cars.com Inc (NASDAQ CARS) opened at 28.04 on Thursday. The company has a market cap of $2.01 billion and a price-to-earnings ratio of 13.19. Cars.com Inc has a 1-year low of $19.90 and a 1-year high of $29.47. The company’s 50-day moving average is $26.11 and its 200 day moving average is $25.82.
Cars.com (NASDAQ:CARS) last released its earnings results on Wednesday, August 9th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.40. The business 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 company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, equities analysts predict that Cars.com Inc will post $1.35 EPS for the current fiscal year.
Several research firms recently weighed in on CARS. B. Riley began coverage on shares of Cars.com in a research note on Wednesday, September 27th. They set a “buy” rating and a $36.00 price objective on the stock. Craig Hallum began coverage on shares of Cars.com in a research note on Thursday, July 20th. They set a “hold” rating and a $25.00 price objective on the stock.
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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