Leuthold Group LLC Buys 7,552 Shares of CarGurus, Inc. (NASDAQ:CARG)

Leuthold Group LLC increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,288 shares of the company’s stock after purchasing an additional 7,552 shares during the quarter. Leuthold Group LLC’s holdings in CarGurus were worth $3,792,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Texas Permanent School Fund Corp grew its stake in shares of CarGurus by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 74,986 shares of the company’s stock valued at $1,731,000 after purchasing an additional 980 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in CarGurus in the first quarter valued at approximately $176,000. Jennison Associates LLC bought a new position in CarGurus in the first quarter valued at approximately $707,000. Capstone Investment Advisors LLC bought a new position in shares of CarGurus during the 1st quarter valued at about $1,315,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of CarGurus by 18.6% in the first quarter. BNP Paribas Financial Markets now owns 95,304 shares of the company’s stock valued at $2,200,000 after buying an additional 14,961 shares during the period. 86.90% of the stock is owned by institutional investors.

CarGurus Trading Up 0.2 %

Shares of NASDAQ:CARG traded up $0.04 on Friday, hitting $25.53. The company had a trading volume of 170,721 shares, compared to its average volume of 921,417. CarGurus, Inc. has a 1-year low of $16.70 and a 1-year high of $26.90. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 92.14, a P/E/G ratio of 1.45 and a beta of 1.57. The stock has a 50 day moving average price of $24.57 and a 200 day moving average price of $23.60.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The business had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.29 million. Sell-side analysts anticipate that CarGurus, Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at CarGurus

In other news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the completion of the transaction, the general counsel now owns 102,130 shares of the company’s stock, valued at $2,553,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the completion of the transaction, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Javier Esquivel Zamora sold 6,680 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $25.00, for a total transaction of $167,000.00. Following the transaction, the general counsel now owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,994 shares of company stock valued at $1,831,470. 17.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CARG. Royal Bank of Canada upped their price target on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, May 10th. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, May 10th. UBS Group upped their price target on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, March 15th. DA Davidson boosted their price objective on shares of CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Needham & Company LLC boosted their price objective on shares of CarGurus from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.55.

CarGurus Company Profile

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.