TrueCar, Inc. (TRUE) Downgraded by ValuEngine to “Sell”
TrueCar, Inc. (NASDAQ:TRUE) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
TRUE has been the topic of a number of other reports. Zacks Investment Research lowered TrueCar from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $17.00 price target on shares of TrueCar in a report on Wednesday, October 11th. Morgan Stanley reiterated an “underweight” rating and set a $13.00 price target (up from $12.00) on shares of TrueCar in a report on Thursday, July 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $23.00 price target (up from $22.00) on shares of TrueCar in a report on Thursday, August 10th. Finally, B. Riley reiterated a “buy” rating and set a $18.00 price target (down from $21.00) on shares of TrueCar in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. TrueCar currently has an average rating of “Hold” and a consensus target price of $17.44.
Shares of TrueCar (NASDAQ TRUE) traded down $5.76 during trading on Tuesday, reaching $10.58. The company had a trading volume of 18,236,247 shares, compared to its average volume of 1,570,000. TrueCar has a 1-year low of $10.37 and a 1-year high of $21.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.06 and a current ratio of 6.06.
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In related news, Director John Krafcik sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the sale, the director now directly owns 61,678 shares in the company, valued at approximately $1,017,687. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Skutta sold 117,410 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.01, for a total value of $1,997,144.10. Following the sale, the executive vice president now owns 181,282 shares in the company, valued at $3,083,606.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,669 shares of company stock worth $8,333,936. Corporate insiders own 15.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TRUE. SG Americas Securities LLC bought a new stake in shares of TrueCar during the 3rd quarter valued at $104,000. Ameritas Investment Partners Inc. raised its stake in shares of TrueCar by 15.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after purchasing an additional 734 shares during the period. Massey Quick Simon & CO. LLC bought a new stake in shares of TrueCar during the 3rd quarter valued at $119,000. BNP Paribas Arbitrage SA raised its stake in shares of TrueCar by 648.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after purchasing an additional 6,876 shares during the period. Finally, North Star Investment Management Corp. bought a new stake in shares of TrueCar during the 2nd quarter valued at $179,000. Institutional investors own 92.00% of the company’s stock.
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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