CarGurus Inc (CARG) Shares Bought by JPMorgan Chase & Co.

Share on StockTwits

JPMorgan Chase & Co. grew its stake in CarGurus Inc (NASDAQ:CARG) by 209.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,319 shares of the company’s stock after buying an additional 167,404 shares during the quarter. JPMorgan Chase & Co.’s holdings in CarGurus were worth $13,773,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Allen Investment Management LLC bought a new position in CarGurus during the 3rd quarter worth approximately $371,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in CarGurus during the 3rd quarter worth approximately $1,251,000. CIBC Asset Management Inc bought a new position in CarGurus during the 3rd quarter worth approximately $209,000. Comerica Bank bought a new position in CarGurus during the 3rd quarter worth approximately $722,000. Finally, Chicago Equity Partners LLC bought a new position in CarGurus during the 3rd quarter worth approximately $3,336,000. Institutional investors own 68.67% of the company’s stock.

Several research analysts have issued reports on the stock. Citigroup assumed coverage on shares of CarGurus in a report on Friday. They set a “buy” rating and a $45.00 price target for the company. BidaskClub lowered shares of CarGurus from a “hold” rating to a “sell” rating in a report on Friday. SunTrust Banks assumed coverage on shares of CarGurus in a report on Monday, November 19th. They set a “buy” rating and a $49.00 price target for the company. Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, November 14th. Finally, BTIG Research assumed coverage on shares of CarGurus in a report on Tuesday, November 13th. They set a “buy” rating and a $48.00 price target for the company. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.75.

CarGurus stock opened at $35.34 on Friday. CarGurus Inc has a 52-week low of $28.52 and a 52-week high of $57.25. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 311.75, a PEG ratio of 57.55 and a beta of 1.83.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $119.04 million during the quarter, compared to analyst estimates of $112.70 million. CarGurus had a net margin of 11.78% and a return on equity of 9.82%. The company’s revenue was up 43.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS. On average, sell-side analysts forecast that CarGurus Inc will post 0.13 earnings per share for the current year.

In other news, CEO Langley Steinert sold 176,109 shares of CarGurus stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $49.30, for a total value of $8,682,173.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anastasios Parafestas sold 2,700 shares of CarGurus stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $42.56, for a total transaction of $114,912.00. The disclosure for this sale can be found here. Insiders sold a total of 4,817,674 shares of company stock valued at $231,547,583 in the last quarter. 51.03% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION NOTICE: “CarGurus Inc (CARG) Shares Bought by JPMorgan Chase & Co.” was originally published by BBNS and is the sole property of of BBNS. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://baseballnewssource.com/2018/12/08/cargurus-inc-carg-shares-bought-by-jpmorgan-chase-co/3064260.html.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

Featured Story: How are Outstanding Shares Different from Authorized Shares?

Want to see what other hedge funds are holding CARG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarGurus Inc (NASDAQ:CARG).

Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.