Loomis Sayles & Co. L P Buys 245,919 Shares of CarGurus, Inc. (NASDAQ:CARG)

Loomis Sayles & Co. L P boosted its stake in CarGurus, Inc. (NASDAQ:CARG) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 946,974 shares of the company’s stock after acquiring an additional 245,919 shares during the period. Loomis Sayles & Co. L P owned 0.91% of CarGurus worth $34,603,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus in the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC raised its stake in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after buying an additional 532 shares during the period. Fifth Third Bancorp lifted its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after buying an additional 456 shares during the last quarter. Principal Securities Inc. grew its stake in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares during the period. Finally, USA Financial Formulas bought a new position in shares of CarGurus during the 4th quarter worth $35,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

CarGurus stock opened at $29.72 on Friday. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The stock has a market cap of $3.10 billion, a P/E ratio of 165.12, a PEG ratio of 1.72 and a beta of 1.52. The firm’s fifty day moving average price is $35.13 and its 200-day moving average price is $34.26.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. Sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

CARG has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded shares of CarGurus from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $34.00 in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Finally, Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

Insider Buying and Selling

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares of the company’s stock, valued at $7,005,545.10. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the sale, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,888 shares of company stock worth $2,229,388. Insiders own 17.20% of the company’s stock.

CarGurus 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.