Leuthold Group LLC Acquires Shares of 156,736 CarGurus, Inc. (NASDAQ:CARG)

Leuthold Group LLC bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 156,736 shares of the company’s stock, valued at approximately $3,787,000. Leuthold Group LLC owned approximately 0.14% of CarGurus at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates boosted its stake in CarGurus by 12.0% during the fourth quarter. Raymond James & Associates now owns 452,182 shares of the company’s stock worth $10,925,000 after acquiring an additional 48,389 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of CarGurus by 207.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock worth $7,097,000 after purchasing an additional 198,321 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in shares of CarGurus in the 4th quarter worth approximately $1,377,000. Pacer Advisors Inc. grew its stake in shares of CarGurus by 20.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock worth $48,164,000 after buying an additional 336,245 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in CarGurus by 42.0% during the 4th quarter. Nordea Investment Management AB now owns 309,651 shares of the company’s stock valued at $7,503,000 after buying an additional 91,626 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CARG. Oppenheimer increased their target price on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. UBS Group raised their price objective on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC increased their price target on CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.90.

CarGurus Stock Up 0.2 %

Shares of NASDAQ CARG traded up $0.04 during mid-day trading on Tuesday, reaching $23.04. 54,409 shares of the company were exchanged, compared to its average volume of 951,455. CarGurus, Inc. has a 1 year low of $16.02 and a 1 year high of $24.64. The firm has a 50-day moving average of $22.78 and a 200 day moving average of $22.25. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 127.78, a P/E/G ratio of 1.38 and a beta of 1.57.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The business had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. During the same period last year, the business earned $0.25 EPS. The company’s revenue was down 22.2% compared to the same quarter last year. On average, equities analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Insider Activity

In other news, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total transaction of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares in the company, valued at $3,773,905.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Andrea Lee Eldridge sold 22,358 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the completion of the transaction, the insider now directly owns 117,432 shares in the company, valued at $2,598,770.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now owns 163,798 shares in the company, valued at approximately $3,773,905.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,793 shares of company stock worth $2,523,342. Insiders own 15.70% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.