CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,897 shares of the company’s stock after selling 6,066 shares during the period. Mackenzie Financial Corp’s holdings in CarGurus were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in CarGurus in the 4th quarter valued at approximately $1,036,000. Smith Graham & Co. Investment Advisors LP increased its holdings in CarGurus by 8.7% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 311,160 shares of the company’s stock valued at $7,518,000 after purchasing an additional 24,934 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CarGurus by 207.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock valued at $7,097,000 after purchasing an additional 198,321 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in CarGurus by 6.2% in the 4th quarter. Stratos Wealth Advisors LLC now owns 54,680 shares of the company’s stock valued at $1,321,000 after purchasing an additional 3,185 shares during the last quarter. Finally, Cullinan Associates Inc. acquired a new stake in CarGurus in the 4th quarter valued at approximately $1,377,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Down 0.6 %

CarGurus stock opened at $23.34 on Thursday. The stock has a market cap of $2.51 billion, a P/E ratio of 129.67, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58. The company has a fifty day simple moving average of $22.87 and a 200-day simple moving average of $21.92. CarGurus, Inc. has a 12-month low of $15.34 and a 12-month high of $24.64.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million during the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The company’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. As a group, sell-side analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CARG shares. Oppenheimer lifted their target price on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. Needham & Company LLC raised their price target on shares of CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, UBS Group raised their price target on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.90.

Insider Activity at CarGurus

In related news, 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 value of $494,782.54. Following the completion of the sale, the insider now directly owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, 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 value of $494,782.54. Following the completion of the sale, the insider now directly owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the general counsel now directly owns 111,589 shares of the company’s stock, valued at $2,469,464.57. The disclosure for this sale can be found here. Insiders sold a total of 113,793 shares of company stock valued at $2,523,342 over the last ninety days. Insiders own 15.70% of the company’s stock.

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.