Silver Point Capital L.P. Buys Shares of 2,341,000 Cars.com Inc (CARS)
Silver Point Capital L.P. bought a new stake in shares of Cars.com Inc (NASDAQ:CARS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,341,000 shares of the company’s stock, valued at approximately $62,341,000. Cars.com accounts for approximately 6.7% of Silver Point Capital L.P.’s investment portfolio, making the stock its 6th biggest holding. Silver Point Capital L.P. owned about 3.27% of Cars.com at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CARS. Regentatlantic Capital LLC bought a new stake in Cars.com during the 2nd quarter valued at approximately $557,000. Russell Investments Group Ltd. bought a new stake in Cars.com during the 2nd quarter valued at approximately $4,787,000. Acadian Asset Management LLC bought a new stake in Cars.com during the 2nd quarter valued at approximately $6,405,000. ING Groep NV bought a new stake in Cars.com during the 2nd quarter valued at approximately $239,000. Finally, Strs Ohio bought a new stake in Cars.com during the 2nd quarter valued at approximately $585,000.
Several analysts recently weighed in on the company. B. Riley assumed coverage on Cars.com in a research note on Wednesday, September 27th. They set a “buy” rating and a $36.00 target price for the company. Craig Hallum assumed coverage on Cars.com in a research note on Thursday, July 20th. They set a “hold” rating and a $25.00 target price for the company.
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Shares of Cars.com Inc (NASDAQ:CARS) traded up 1.32% during mid-day trading on Thursday, reaching $28.41. The company had a trading volume of 353,709 shares. Cars.com Inc has a 12 month low of $19.90 and a 12 month high of $29.47. The firm’s 50-day moving average is $26.11 and its 200 day moving average is $25.82. The company has a market capitalization of $2.03 billion and a price-to-earnings ratio of 13.36.
Cars.com (NASDAQ:CARS) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The business had revenue of $156.62 million during the quarter, compared to analysts’ expectations of $157.00 million. During the same quarter last year, the company posted $0.59 earnings per share. Cars.com’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that Cars.com Inc will post $1.35 earnings per share for the current 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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