Cars.com (NYSE:CARS) Sees Large Volume Increase

Cars.com Inc. (NYSE:CARS) shares saw an uptick in trading volume on Wednesday . 756,542 shares were traded during mid-day trading, an increase of 109% from the previous session’s volume of 362,149 shares.The stock last traded at $16.80 and had previously closed at $16.70.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Cars.com Stock Up 1.0 %

The firm has a market cap of $1.12 billion, a PE ratio of 9.65 and a beta of 2.05. The firm’s 50 day moving average is $17.41 and its 200-day moving average is $17.83. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.93.

Cars.com (NYSE:CARS) last posted its earnings results on Thursday, February 22nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Cars.com had a net margin of 17.19% and a return on equity of 25.78%. The company had revenue of $179.60 million during the quarter, compared to analyst estimates of $178.40 million. During the same quarter last year, the business posted $0.15 EPS. Cars.com’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Cars.com Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Thomas Alex Vetter sold 17,666 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $19.00, for a total transaction of $335,654.00. Following the completion of the transaction, the chief executive officer now owns 568,885 shares in the company, valued at approximately $10,808,815. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Douglas Neal Miller sold 1,823 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $18.50, for a total transaction of $33,725.50. Following the completion of the sale, the insider now owns 181,596 shares in the company, valued at approximately $3,359,526. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Alex Vetter sold 17,666 shares of Cars.com stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $19.00, for a total value of $335,654.00. Following the sale, the chief executive officer now directly owns 568,885 shares in the company, valued at $10,808,815. The disclosure for this sale can be found here. Insiders sold 34,488 shares of company stock valued at $654,361 over the last 90 days. 1.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its holdings in shares of Cars.com by 118.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,652 shares of the company’s stock worth $31,000 after acquiring an additional 896 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Cars.com by 103.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,073 shares of the company’s stock valued at $39,000 after purchasing an additional 1,056 shares during the period. Wolverine Asset Management LLC boosted its stake in shares of Cars.com by 109.1% during the 4th quarter. Wolverine Asset Management LLC now owns 3,749 shares of the company’s stock worth $71,000 after acquiring an additional 45,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Cars.com in the fourth quarter valued at $119,000. Finally, Benjamin Edwards Inc. bought a new position in Cars.com in the 4th quarter valued at about $144,000. Institutional investors and hedge funds own 89.15% of the company’s stock.

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.