Envestnet Portfolio Solutions Inc. Makes New Investment in Cars.com Inc. (NYSE:CARS)

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Cars.com Inc. (NYSE:CARS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,756 shares of the company’s stock, valued at approximately $186,000.

Several other large investors have also modified their holdings of CARS. BNP Paribas Financial Markets increased its position in Cars.com by 8.0% during the third quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company’s stock worth $244,000 after purchasing an additional 1,075 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Cars.com by 193.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock valued at $29,000 after buying an additional 1,079 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Cars.com by 41.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,155 shares of the company’s stock worth $89,000 after buying an additional 1,516 shares during the last quarter. KBC Group NV raised its position in shares of Cars.com by 68.2% in the 4th quarter. KBC Group NV now owns 3,885 shares of the company’s stock worth $67,000 after buying an additional 1,575 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Cars.com by 22.1% in the fourth quarter. Principal Securities Inc. now owns 8,786 shares of the company’s stock valued at $152,000 after acquiring an additional 1,592 shares during the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARS has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on Cars.com from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a report on Tuesday, March 4th. Finally, DA Davidson decreased their price objective on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cars.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Cars.com Price Performance

Shares of NYSE CARS opened at $11.30 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. Cars.com Inc. has a 1-year low of $10.80 and a 1-year high of $21.24. The company has a market capitalization of $721.41 million, a price-to-earnings ratio of 19.48 and a beta of 2.16. The business has a 50-day moving average of $14.93 and a 200-day moving average of $16.58.

Cars.com Company 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.