Oppenheimer Asset Management Inc. acquired a new position in shares of TrueCar Inc (NASDAQ:TRUE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,639 shares of the technology company’s stock, valued at approximately $221,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of TRUE. Jane Street Group LLC bought a new stake in TrueCar during the first quarter worth approximately $170,000. Bank of Montreal Can increased its stake in TrueCar by 7.2% during the second quarter. Bank of Montreal Can now owns 128,380 shares of the technology company’s stock worth $1,296,000 after acquiring an additional 8,602 shares during the last quarter. Amalgamated Bank bought a new stake in TrueCar during the second quarter worth approximately $141,000. Rhumbline Advisers increased its stake in TrueCar by 33.1% during the second quarter. Rhumbline Advisers now owns 85,586 shares of the technology company’s stock worth $864,000 after acquiring an additional 21,291 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in TrueCar by 10.4% during the second quarter. Bank of New York Mellon Corp now owns 361,505 shares of the technology company’s stock worth $3,648,000 after acquiring an additional 33,943 shares during the last quarter. 95.55% of the stock is currently owned by institutional investors.
Shares of NASDAQ:TRUE opened at $10.05 on Friday. TrueCar Inc has a 1 year low of $8.75 and a 1 year high of $14.55. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -37.07 and a beta of 2.62. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.09.
TRUE has been the subject of several recent analyst reports. DA Davidson set a $13.00 target price on TrueCar and gave the company a “hold” rating in a research report on Monday, August 13th. ValuEngine upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Benchmark dropped their target price on TrueCar from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, B. Riley dropped their target price on TrueCar from $18.00 to $16.50 and set a “buy” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.58.
In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total transaction of $103,608.19. Following the completion of the transaction, the executive vice president now owns 128,791 shares in the company, valued at $1,739,966.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 9,167 shares of company stock valued at $121,994 in the last 90 days. Company insiders own 5.60% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Week Herald and is the property of of Week Herald. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://weekherald.com/2018/11/10/oppenheimer-asset-management-inc-acquires-shares-of-15639-truecar-inc-true.html.
TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
Further Reading: Penny Stocks, Risk and Reward Factors
Want to see what other hedge funds are holding TRUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrueCar Inc (NASDAQ:TRUE).
Receive News & Ratings for TrueCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar and related companies with MarketBeat.com's FREE daily email newsletter.