Cars.com Inc. (NYSE:CARS) dropped 6.3% during trading on Wednesday . The stock traded as low as $9.70 and last traded at $10.00, approximately 1,892,533 shares were traded during mid-day trading. An increase of 43% from the average daily volume of 1,323,083 shares. The stock had previously closed at $10.67.
CARS has been the subject of several analyst reports. Craig Hallum upgraded Cars.com from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday. They noted that the move was a valuation call. ValuEngine downgraded Cars.com from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Barrington Research downgraded Cars.com from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Citigroup reiterated a “buy” rating and set a $19.00 price target (down previously from $27.00) on shares of Cars.com in a research report on Tuesday, August 6th. Finally, Zacks Investment Research downgraded Cars.com from a “hold” rating to a “strong sell” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.31.
The stock has a market cap of $711.39 million, a P/E ratio of 5.30, a P/E/G ratio of 1.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day moving average price of $10.29 and a 200-day moving average price of $18.72.
In other news, insider James F. Rogers bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $9.99 per share, for a total transaction of $99,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Alex Vetter bought 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $9.58 per share, with a total value of $105,380.00. The disclosure for this purchase can be found here. Insiders purchased a total of 58,948 shares of company stock valued at $575,784 in the last 90 days. 0.04% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CARS. Sapience Investments LLC lifted its position in Cars.com by 134.5% in the 1st quarter. Sapience Investments LLC now owns 1,375,630 shares of the company’s stock worth $31,364,000 after buying an additional 788,980 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in Cars.com in the 2nd quarter worth approximately $9,266,000. Nuveen Asset Management LLC increased its stake in Cars.com by 18.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,696,623 shares of the company’s stock worth $33,457,000 after purchasing an additional 259,399 shares during the period. FMR LLC increased its stake in Cars.com by 26.7% in the 1st quarter. FMR LLC now owns 1,052,622 shares of the company’s stock worth $24,000,000 after purchasing an additional 222,027 shares during the period. Finally, BlackRock Inc. increased its stake in Cars.com by 2.8% in the 2nd quarter. BlackRock Inc. now owns 7,800,006 shares of the company’s stock worth $153,816,000 after purchasing an additional 213,141 shares during the period.
About Cars.com (NYSE:CARS)
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.
See Also: What is a trade deficit?
Receive News & Ratings for Cars.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cars.com and related companies with MarketBeat.com's FREE daily email newsletter.