JMP Securities Reiterates Market Perform Rating for CarGurus (NASDAQ:CARG)

CarGurus (NASDAQ:CARG)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a research note issued on Wednesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. UBS Group raised their price target on shares of CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC raised their price target on shares of CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.90.

CarGurus Stock Up 1.5 %

CarGurus stock opened at $21.54 on Wednesday. CarGurus has a 52 week low of $15.34 and a 52 week high of $24.64. The company’s 50 day moving average price is $22.91 and its two-hundred day moving average price is $21.74. The stock has a market cap of $2.31 billion, a P/E ratio of 119.67, a P/E/G ratio of 1.32 and a beta of 1.58.

CarGurus (NASDAQ:CARG) last posted its earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. During the same quarter last year, the firm earned $0.25 EPS. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. On average, equities analysts anticipate that CarGurus will post 0.94 EPS for the current year.

Insider Activity at CarGurus

In related news, insider Andrea Lee Eldridge sold 22,358 shares of CarGurus stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $494,782.54. Following the completion of the transaction, the insider now directly owns 117,432 shares in the company, valued at approximately $2,598,770.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $521,316.41. Following the completion of the transaction, the general counsel now directly owns 111,589 shares in the company, valued at approximately $2,469,464.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrea Lee Eldridge sold 22,358 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $494,782.54. Following the transaction, the insider now owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,793 shares of company stock worth $2,523,342. Corporate insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CARG. Exchange Traded Concepts LLC purchased a new position in shares of CarGurus during the 3rd quarter valued at $30,000. Acadian Asset Management LLC purchased a new position in shares of CarGurus during the 3rd quarter valued at $32,000. GAMMA Investing LLC purchased a new position in shares of CarGurus during the 4th quarter valued at $32,000. First Horizon Advisors Inc. lifted its holdings in shares of CarGurus by 56.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,741 shares of the company’s stock worth $33,000 after acquiring an additional 631 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of CarGurus by 32.5% during the 1st quarter. Quarry LP now owns 2,269 shares of the company’s stock worth $42,000 after acquiring an additional 556 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Company Profile

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.