Traders Purchase Large Volume of Cars.com Put Options (NYSE:CARS)

Cars.com Inc. (NYSE:CARS) was the target of some unusual options trading activity on Monday. Investors bought 2,833 put options on the stock. This represents an increase of 588% compared to the average daily volume of 412 put options.

Several analysts have commented on CARS shares. Truist Securities started coverage on shares of Cars.com in a research note on Friday, August 27th. They set a “buy” rating and a $18.00 price objective for the company. Truist Financial started coverage on shares of Cars.com in a report on Friday, August 27th. They set a “buy” rating and a $18.00 target price for the company. Finally, Truist started coverage on shares of Cars.com in a report on Friday, August 27th. They set a “buy” rating and a $18.00 target price for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cars.com currently has an average rating of “Buy” and a consensus target price of $16.25.

In other Cars.com news, CRO Douglas Neal Miller sold 8,399 shares of Cars.com stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $12.01, for a total transaction of $100,871.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eaton Vance Management purchased a new stake in Cars.com in the 1st quarter worth $31,000. Marshall Wace LLP purchased a new stake in Cars.com in the 1st quarter worth $63,000. FORA Capital LLC purchased a new stake in Cars.com in the 2nd quarter worth $43,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Cars.com in the 2nd quarter worth $104,000. Finally, Amalgamated Bank purchased a new stake in shares of Cars.com during the second quarter worth $144,000. 93.77% of the stock is owned by institutional investors.

Shares of NYSE CARS opened at $12.43 on Wednesday. The firm has a market cap of $857.23 million, a PE ratio of 155.39 and a beta of 2.35. The firm has a fifty day moving average of $12.51 and a 200 day moving average of $13.35. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.69 and a current ratio of 1.69. Cars.com has a one year low of $7.23 and a one year high of $15.71.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.33). The company had revenue of $155.50 million during the quarter, compared to analysts’ expectations of $152.89 million. Cars.com had a return on equity of 13.06% and a net margin of 1.02%. Cars.com’s revenue was up 52.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities analysts predict that Cars.com will post 0.29 EPS for the current fiscal year.

About Cars.com

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.

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