Watershed Asset Management L.L.C. Reduces Stock Position in Cars.com Inc. (NYSE:CARS)

Watershed Asset Management L.L.C. reduced its holdings in shares of Cars.com Inc. (NYSE:CARS) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,191 shares of the company’s stock after selling 1,114 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Cars.com were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CARS. SG Americas Securities LLC purchased a new stake in shares of Cars.com during the 3rd quarter valued at approximately $330,000. New York State Teachers Retirement System lifted its stake in Cars.com by 36.7% in the 3rd quarter. New York State Teachers Retirement System now owns 26,383 shares of the company’s stock worth $445,000 after purchasing an additional 7,090 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cars.com by 55.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,164 shares of the company’s stock worth $323,000 after purchasing an additional 6,808 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cars.com by 1.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,074 shares of the company’s stock worth $743,000 after purchasing an additional 733 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in Cars.com by 15.4% in the 3rd quarter. Inspire Investing LLC now owns 18,299 shares of the company’s stock worth $309,000 after purchasing an additional 2,442 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cars.com

In other Cars.com news, CEO Thomas Alex Vetter sold 14,999 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $19.00, for a total value of $284,981.00. Following the sale, the chief executive officer now owns 553,886 shares of the company’s stock, valued at approximately $10,523,834. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Douglas Neal Miller sold 1,823 shares of Cars.com stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $18.50, for a total transaction of $33,725.50. Following the sale, the insider now owns 181,596 shares of the company’s stock, valued at approximately $3,359,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Alex Vetter sold 14,999 shares of Cars.com stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $19.00, for a total transaction of $284,981.00. Following the sale, the chief executive officer now directly owns 553,886 shares in the company, valued at approximately $10,523,834. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,488 shares of company stock valued at $654,361. Insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Cars.com Price Performance

Shares of Cars.com stock traded up $0.14 on Tuesday, hitting $16.70. 388,590 shares of the company traded hands, compared to its average volume of 365,865. The firm’s 50-day simple moving average is $17.41 and its 200 day simple moving average is $17.83. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.10 billion, a P/E ratio of 9.65 and a beta of 2.05. Cars.com Inc. has a 12-month low of $14.82 and a 12-month high of $22.84.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). The company had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $178.40 million. Cars.com had a net margin of 17.19% and a return on equity of 25.78%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Analysts expect that Cars.com Inc. will post 0.55 earnings per share for the current fiscal year.

Cars.com 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.