Cars.com Inc. (NYSE:CARS) Sees Significant Decrease in Short Interest

Cars.com Inc. (NYSE:CARS) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,620,000 shares, a drop of 10.0% from the March 15th total of 1,800,000 shares. Based on an average trading volume of 378,100 shares, the short-interest ratio is presently 4.3 days. Currently, 2.7% of the shares of the company are short sold.

Cars.com Trading Up 0.2 %

Shares of CARS traded up $0.03 during mid-day trading on Wednesday, reaching $16.19. 130,954 shares of the company’s stock traded hands, compared to its average volume of 367,099. Cars.com has a 12 month low of $14.82 and a 12 month high of $22.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $1.06 billion, a P/E ratio of 9.34 and a beta of 2.05. The stock’s 50-day moving average is $17.65 and its two-hundred day moving average is $17.84.

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

Insiders Place Their Bets

In related news, insider Douglas Neal Miller sold 1,823 shares of Cars.com 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 sale, the insider now owns 181,596 shares of the company’s stock, valued at approximately $3,359,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas Neal Miller sold 1,823 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $18.50, for a total transaction of $33,725.50. Following the completion of the transaction, the insider now owns 181,596 shares in the company, valued at $3,359,526. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Alex Vetter sold 14,999 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $19.00, for a total transaction of $284,981.00. Following the completion of the sale, the chief executive officer now owns 553,886 shares in the company, valued at approximately $10,523,834. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,488 shares of company stock worth $654,361. Company insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its position in Cars.com by 0.7% during the 3rd quarter. Sei Investments Co. now owns 78,172 shares of the company’s stock valued at $1,318,000 after purchasing an additional 514 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Cars.com by 0.3% in the fourth quarter. First Eagle Investment Management LLC now owns 219,228 shares of the company’s stock valued at $4,159,000 after acquiring an additional 576 shares in the last quarter. Royal Bank of Canada lifted its stake in Cars.com by 14.4% in the second quarter. Royal Bank of Canada now owns 5,713 shares of the company’s stock worth $113,000 after acquiring an additional 721 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cars.com by 1.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,074 shares of the company’s stock worth $743,000 after acquiring an additional 733 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Cars.com by 118.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,652 shares of the company’s stock worth $31,000 after acquiring an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Cars.com Company Profile

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.