SG Americas Securities LLC Grows Stake in TrueCar, Inc. (NASDAQ:TRUE)

SG Americas Securities LLC raised its stake in TrueCar, Inc. (NASDAQ:TRUE) by 126.5% during the third quarter, Holdings Channel reports. The fund owned 34,644 shares of the technology company’s stock after buying an additional 19,349 shares during the period. SG Americas Securities LLC’s holdings in TrueCar were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of TrueCar by 29.1% in the first quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock valued at $2,273,000 after purchasing an additional 151,115 shares during the period. Bank of Montreal Can raised its position in shares of TrueCar by 769.9% in the second quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock valued at $1,319,000 after purchasing an additional 368,234 shares during the period. Bank of New York Mellon Corp raised its position in shares of TrueCar by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock valued at $1,042,000 after purchasing an additional 34,045 shares during the period. Vanguard Group Inc. increased its holdings in TrueCar by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after acquiring an additional 41,592 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in TrueCar by 182.5% during the 2nd quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock worth $261,000 after acquiring an additional 53,965 shares during the period. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on TRUE shares. BTIG Research upped their target price on shares of TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC decreased their target price on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Lake Street Capital started coverage on shares of TrueCar in a report on Monday, October 7th. They issued a “buy” rating and a $6.00 price target on the stock.

TrueCar Stock Performance

Shares of TrueCar stock opened at $3.74 on Friday. TrueCar, Inc. has a 52-week low of $1.76 and a 52-week high of $4.05. The stock has a market capitalization of $342.49 million, a price-to-earnings ratio of -9.35 and a beta of 1.85. The company has a fifty day moving average of $3.26 and a 200-day moving average of $3.12.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Monday, August 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). TrueCar had a negative net margin of 17.63% and a negative return on equity of 14.10%. The business had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $43.38 million. On average, equities research analysts forecast that TrueCar, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at TrueCar

In other TrueCar news, EVP Jeff Swart sold 20,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total transaction of $56,400.00. Following the completion of the sale, the executive vice president now owns 390,600 shares of the company’s stock, valued at $1,101,492. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by corporate insiders.

TrueCar Company Profile

TrueCar, Inc 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. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.