Royce & Associates LP Reduces Holdings in Cars.com Inc. (NYSE:CARS)

Royce & Associates LP reduced its stake in Cars.com Inc. (NYSE:CARS) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 625,492 shares of the company’s stock after selling 54,170 shares during the quarter. Royce & Associates LP’s holdings in Cars.com were worth $10,483,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Cars.com in the first quarter worth $28,000. Russell Investments Group Ltd. raised its stake in Cars.com by 50.3% in the 1st quarter. Russell Investments Group Ltd. now owns 615,408 shares of the company’s stock worth $10,573,000 after acquiring an additional 205,871 shares during the last quarter. ProShare Advisors LLC lifted its position in Cars.com by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 13,307 shares of the company’s stock worth $229,000 after acquiring an additional 925 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Cars.com by 30.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,685 shares of the company’s stock valued at $424,000 after purchasing an additional 5,690 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Cars.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after purchasing an additional 81,645 shares during the period. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Cars.com Stock Performance

CARS opened at $18.72 on Friday. The stock has a market cap of $1.21 billion, a P/E ratio of 32.27 and a beta of 2.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a fifty day moving average price of $16.78 and a 200 day moving average price of $18.05. Cars.com Inc. has a 1 year low of $15.05 and a 1 year high of $21.24.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Wednesday. UBS Group upped their price objective on shares of Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, B. Riley lowered their price target on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

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.