Fairpointe Capital LLC Takes Position in Cars.com Inc (CARS)
Fairpointe Capital LLC purchased a new stake in shares of Cars.com Inc (NASDAQ:CARS) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,735,360 shares of the company’s stock, valued at approximately $72,843,000. Fairpointe Capital LLC owned 3.82% of Cars.com at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. First Personal Financial Services acquired a new position in shares of Cars.com during the 2nd quarter worth approximately $118,000. First Mercantile Trust Co. acquired a new position in shares of Cars.com during the 2nd quarter worth approximately $132,000. AT Bancorp acquired a new position in shares of Cars.com during the 2nd quarter worth approximately $168,000. Commonwealth Bank of Australia acquired a new position in shares of Cars.com during the 2nd quarter worth approximately $170,000. Finally, Quantbot Technologies LP acquired a new position in shares of Cars.com during the 2nd quarter worth approximately $172,000.
Several research analysts recently issued reports on the company. B. Riley assumed coverage on Cars.com in a research report on Monday, October 2nd. They set a “buy” rating and a $36.00 price objective for the company. Craig Hallum assumed coverage on Cars.com in a research report on Thursday, July 20th. They set a “hold” rating and a $25.00 price objective for the company.
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Shares of Cars.com Inc (CARS) traded down 2.93% on Monday, hitting $27.87. The company had a trading volume of 399,321 shares. Cars.com Inc has a 12 month low of $19.90 and a 12 month high of $29.47. The stock has a market cap of $2.00 billion and a PE ratio of 13.11. The company has a 50-day moving average of $26.32 and a 200 day moving average of $25.88.
Cars.com (NASDAQ:CARS) last released its earnings results on Wednesday, August 9th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.30 by $0.40. Cars.com had a net margin of 15.84% and a return on equity of 5.13%. The business had revenue of $156.62 million during the quarter, compared to analyst estimates of $157.00 million. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate 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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