Massey Quick Simon & CO. LLC Takes $119,000 Position in TrueCar, Inc. (TRUE)
Massey Quick Simon & CO. LLC bought a new stake in TrueCar, Inc. (NASDAQ:TRUE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 7,510 shares of the technology company’s stock, valued at approximately $119,000.
Several other institutional investors also recently made changes to their positions in TRUE. First Midwest Bank Trust Division acquired a new position in shares of TrueCar in the 3rd quarter worth approximately $429,000. First Trust Advisors LP grew its position in TrueCar by 3.8% during the third quarter. First Trust Advisors LP now owns 2,851,218 shares of the technology company’s stock valued at $45,021,000 after buying an additional 104,381 shares during the period. Fox Run Management L.L.C. purchased a new stake in TrueCar during the third quarter valued at about $275,000. Fondren Management LP purchased a new stake in TrueCar during the second quarter valued at about $598,000. Finally, Lord Abbett & CO. LLC purchased a new stake in TrueCar during the second quarter valued at about $24,096,000. 91.28% of the stock is currently owned by institutional investors.
In other news, EVP Neeraj Gunsagar sold 1,882 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $15.22, for a total transaction of $28,644.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Buce sold 32,999 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $16.52, for a total value of $545,143.48. Following the transaction, the director now directly owns 181,558 shares in the company, valued at approximately $2,999,338.16. The disclosure for this sale can be found here. Insiders have sold a total of 490,669 shares of company stock worth $8,168,936 in the last three months. Corporate insiders own 15.50% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Massey Quick Simon & CO. LLC Takes $119,000 Position in TrueCar, Inc. (TRUE)” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/15/massey-quick-simon-co-llc-takes-119000-position-in-truecar-inc-true.html.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.00 target price (up from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of TrueCar in a report on Friday, August 4th. B. Riley reiterated a “buy” rating and issued a $21.00 price target on shares of TrueCar in a report on Wednesday, August 9th. Cowen and Company reissued a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Finally, Zacks Investment Research lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. TrueCar presently has an average rating of “Hold” and a consensus target price of $17.44.
TrueCar, Inc. (NASDAQ TRUE) traded up $0.13 on Wednesday, hitting $11.11. The stock had a trading volume of 1,422,200 shares, compared to its average volume of 1,555,334. TrueCar, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31.
TrueCar Company Profile
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.
Want to see what other hedge funds are holding TRUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrueCar, Inc. (NASDAQ:TRUE).
Receive News & Stock Ratings for TrueCar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar Inc. and related stocks with our FREE daily email newsletter.