Quantbot Technologies LP Purchases New Shares in CarGurus, Inc. (NASDAQ:CARG)

Quantbot Technologies LP acquired a new position in CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,050 shares of the company’s stock, valued at approximately $477,000.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the 3rd quarter worth $28,000. Global Retirement Partners LLC increased its holdings in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp raised its position in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares during the period. Principal Securities Inc. boosted its stake in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after acquiring an additional 424 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of CarGurus during the 4th quarter valued at approximately $35,000. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Performance

NASDAQ:CARG opened at $28.82 on Friday. The business’s fifty day moving average is $34.95 and its 200 day moving average is $34.27. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 160.12, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. Equities analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the sale, the chief technology officer now owns 195,795 shares of the company’s stock, valued at $7,005,545.10. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Samuel Zales sold 9,857 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, the chief operating officer now directly owns 434,821 shares of the company’s stock, valued at $15,923,145.02. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock valued at $2,229,388 in the last three months. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Oppenheimer lowered their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. cut CarGurus from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $38.75.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.