Lord Abbett & CO. LLC Sells 125,003 Shares of Cars.com Inc. (NYSE:CARS)

Lord Abbett & CO. LLC trimmed its position in Cars.com Inc. (NYSE:CARS) by 25.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 359,786 shares of the company’s stock after selling 125,003 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Cars.com were worth $6,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of Cars.com by 8.0% during the third quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company’s stock valued at $244,000 after acquiring an additional 1,075 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Cars.com by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,832 shares of the company’s stock worth $627,000 after purchasing an additional 1,101 shares during the last quarter. CWM LLC increased its stake in Cars.com by 62.4% during the 3rd quarter. CWM LLC now owns 3,569 shares of the company’s stock valued at $60,000 after purchasing an additional 1,372 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Cars.com by 8.7% in the second quarter. TD Asset Management Inc now owns 19,900 shares of the company’s stock worth $392,000 after buying an additional 1,600 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Cars.com by 6.2% in the third quarter. Franklin Resources Inc. now owns 28,963 shares of the company’s stock worth $460,000 after buying an additional 1,690 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Cars.com Trading Up 2.0 %

NYSE CARS opened at $18.70 on Tuesday. Cars.com Inc. has a 1 year low of $15.05 and a 1 year high of $21.24. 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 company has a market capitalization of $1.21 billion, a PE ratio of 32.24 and a beta of 2.12. The company has a fifty day moving average of $17.69 and a 200 day moving average of $18.22.

Insider Buying and Selling at Cars.com

In related news, CFO Sonia Jain sold 24,971 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total transaction of $492,927.54. Following the sale, the chief financial officer now directly owns 229,229 shares of the company’s stock, valued at approximately $4,524,980.46. This represents a 9.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jill A. Greenthal sold 4,524 shares of Cars.com stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the transaction, the director now directly owns 101,963 shares of the company’s stock, valued at $2,024,985.18. The trade was a 4.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CARS. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Wednesday, November 13th. UBS Group increased their price objective on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th.

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.