Kendall Capital Management Lowers Stock Position in Cars.com Inc. (NYSE:CARS)

Kendall Capital Management reduced its stake in Cars.com Inc. (NYSE:CARS) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,035 shares of the company’s stock after selling 7,350 shares during the quarter. Kendall Capital Management owned about 0.11% of Cars.com worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CARS. Pacer Advisors Inc. raised its stake in Cars.com by 62,357.6% in the third quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company’s stock valued at $41,798,000 after purchasing an additional 2,489,939 shares in the last quarter. FMR LLC raised its stake in shares of Cars.com by 1.7% during the third quarter. FMR LLC now owns 9,902,561 shares of the company’s stock worth $165,967,000 after acquiring an additional 162,692 shares in the last quarter. Barclays PLC raised its stake in shares of Cars.com by 340.9% during the third quarter. Barclays PLC now owns 108,177 shares of the company’s stock worth $1,813,000 after acquiring an additional 83,642 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Cars.com by 35.9% during the fourth quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock worth $4,939,000 after acquiring an additional 74,133 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Cars.com during the third quarter worth approximately $1,222,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Cars.com from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. DA Davidson decreased their price target on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Cars.com Stock Up 5.5 %

Shares of NYSE CARS opened at $12.29 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 52 week low of $11.53 and a 52 week high of $21.24. The firm’s fifty day moving average is $16.60 and its 200 day moving average is $17.21. The company has a market cap of $784.36 million, a price-to-earnings ratio of 21.18 and a beta of 2.16.

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.