Cars.com Inc. (NYSE:CARS) Sees Significant Growth in Short Interest

Cars.com Inc. (NYSE:CARS) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,730,000 shares, a growth of 6.8% from the March 31st total of 1,620,000 shares. Based on an average daily trading volume, of 399,500 shares, the short-interest ratio is presently 4.3 days. Approximately 2.9% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Cars.com

In other Cars.com news, insider Douglas Neal Miller sold 1,823 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $18.50, for a total value of $33,725.50. Following the completion of the transaction, the insider now directly owns 181,596 shares in the company, valued at $3,359,526. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cars.com news, CEO Thomas Alex Vetter sold 17,666 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $19.00, for a total value of $335,654.00. Following the sale, the chief executive officer now owns 568,885 shares in the company, valued at $10,808,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Neal Miller sold 1,823 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $18.50, for a total value of $33,725.50. Following the completion of the sale, the insider now directly owns 181,596 shares of the company’s stock, valued at $3,359,526. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,488 shares of company stock worth $654,361. Insiders own 2.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in shares of Cars.com by 118.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,652 shares of the company’s stock worth $31,000 after purchasing an additional 896 shares during the period. Parkside Financial Bank & Trust increased its holdings in Cars.com by 103.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,073 shares of the company’s stock valued at $39,000 after buying an additional 1,056 shares during the period. Wolverine Asset Management LLC lifted its holdings in shares of Cars.com by 109.1% during the 4th quarter. Wolverine Asset Management LLC now owns 3,749 shares of the company’s stock worth $71,000 after acquiring an additional 45,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cars.com during the 4th quarter worth approximately $119,000. Finally, Benjamin Edwards Inc. bought a new position in Cars.com in the fourth quarter valued at approximately $144,000. 89.15% of the stock is owned by institutional investors.

Cars.com Stock Performance

NYSE:CARS opened at $16.60 on Thursday. The stock has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $17.83. The stock has a market cap of $1.10 billion, a P/E ratio of 9.60 and a beta of 2.05. Cars.com has a 1-year low of $14.82 and a 1-year high of $22.84. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93.

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

About Cars.com

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.