Hillsdale Investment Management Inc. Takes $152,000 Position in TrueCar, Inc. (NASDAQ:TRUE)

Hillsdale Investment Management Inc. purchased a new stake in shares of TrueCar, Inc. (NASDAQ:TRUE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 44,973 shares of the technology company’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRUE. SG Americas Securities LLC boosted its holdings in TrueCar by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 48,874 shares of the technology company’s stock worth $169,000 after purchasing an additional 8,961 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in TrueCar by 84.1% in the fourth quarter. Mackenzie Financial Corp now owns 55,911 shares of the technology company’s stock worth $193,000 after purchasing an additional 25,537 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in TrueCar by 269.8% in the fourth quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company’s stock worth $96,000 after purchasing an additional 20,254 shares during the last quarter. Acuitas Investments LLC boosted its holdings in TrueCar by 28.3% in the fourth quarter. Acuitas Investments LLC now owns 1,264,272 shares of the technology company’s stock worth $4,374,000 after purchasing an additional 279,106 shares during the last quarter. Finally, Mill Road Capital Management LLC boosted its holdings in TrueCar by 5.3% in the fourth quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock worth $5,964,000 after purchasing an additional 86,100 shares during the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TRUE shares. StockNews.com upgraded shares of TrueCar from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Needham & Company LLC dropped their price target on shares of TrueCar from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th.

TrueCar Stock Performance

Shares of TrueCar stock traded up $0.15 on Monday, hitting $3.79. 214,044 shares of the company’s stock were exchanged, compared to its average volume of 196,033. The stock has a market capitalization of $347.05 million, a PE ratio of -9.47 and a beta of 1.88. TrueCar, Inc. has a 1 year low of $1.76 and a 1 year high of $4.05. The company has a 50-day simple moving average of $3.05 and a 200-day simple moving average of $3.21.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Monday, April 29th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $41.05 million for the quarter, compared to the consensus estimate of $41.21 million. TrueCar had a negative net margin of 22.15% and a negative return on equity of 17.26%. On average, analysts expect that TrueCar, Inc. will post -0.22 EPS for the current fiscal year.

TrueCar Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.