Hennion & Walsh Asset Management Inc. Increases Stock Holdings in Cars.com Inc. (NYSE:CARS)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Cars.com Inc. (NYSE:CARS) by 60.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,229 shares of the company’s stock after buying an additional 6,855 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cars.com were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC grew its stake in Cars.com by 16.2% during the 4th quarter. Park Avenue Securities LLC now owns 18,002 shares of the company’s stock worth $312,000 after buying an additional 2,506 shares during the last quarter. Nordea Investment Management AB grew its stake in Cars.com by 35.9% during the 4th quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock worth $4,939,000 after buying an additional 74,133 shares during the last quarter. Franklin Resources Inc. grew its stake in Cars.com by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 28,963 shares of the company’s stock worth $460,000 after buying an additional 1,690 shares during the last quarter. Geode Capital Management LLC grew its stake in Cars.com by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,312 shares of the company’s stock worth $24,513,000 after buying an additional 6,021 shares during the last quarter. Finally, Barclays PLC grew its stake in Cars.com by 340.9% during the 3rd quarter. Barclays PLC now owns 108,177 shares of the company’s stock worth $1,813,000 after buying an additional 83,642 shares during the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Cars.com Stock Performance

Shares of CARS stock opened at $17.65 on Wednesday. The stock has a market cap of $1.14 billion, a PE ratio of 30.42 and a beta of 2.15. The business has a 50-day simple moving average of $18.25 and a 200-day simple moving average of $17.77. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a 52-week low of $15.05 and a 52-week high of $21.24.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CARS. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Wednesday, November 13th. UBS Group boosted their price target on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, November 8th.

Insider Activity

In other Cars.com news, Director Jill A. Greenthal sold 4,524 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the sale, the director now directly owns 101,963 shares in the company, valued at approximately $2,024,985.18. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sonia Jain sold 24,971 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total value of $492,927.54. Following the sale, the chief financial officer now owns 229,229 shares of the company’s stock, valued at approximately $4,524,980.46. This trade represents a 9.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.12% of the company’s stock.

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.