StockNews.com Downgrades TrueCar (NASDAQ:TRUE) to Hold

TrueCar (NASDAQ:TRUE) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Separately, Needham & Company LLC lowered their price objective on TrueCar from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th.

TrueCar Stock Down 0.7 %

Shares of NASDAQ TRUE opened at $2.88 on Monday. The firm’s 50-day moving average price is $3.20 and its 200-day moving average price is $3.11. TrueCar has a 52-week low of $1.76 and a 52-week high of $4.05. The company has a market cap of $263.72 million, a PE ratio of -7.20 and a beta of 1.71.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. TrueCar had a negative return on equity of 17.12% and a negative net margin of 22.15%. The firm had revenue of $41.29 million during the quarter, compared to analyst estimates of $41.50 million. As a group, equities research analysts anticipate that TrueCar will post -0.22 EPS for the current fiscal year.

Insider Transactions at TrueCar

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $3.45, for a total transaction of $51,750.00. Following the completion of the transaction, the executive vice president now owns 325,044 shares in the company, valued at $1,121,401.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On TrueCar

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in shares of TrueCar by 35.4% in the 1st quarter. BNP Paribas Financial Markets now owns 70,820 shares of the technology company’s stock worth $240,000 after acquiring an additional 18,501 shares in the last quarter. Fairman Group LLC purchased a new stake in shares of TrueCar during the fourth quarter valued at about $73,000. Mill Road Capital Management LLC boosted its holdings in shares of TrueCar by 5.3% in the 4th quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock valued at $5,964,000 after buying an additional 86,100 shares in the last quarter. Acuitas Investments LLC grew its position in shares of TrueCar by 28.3% in the 4th quarter. Acuitas Investments LLC now owns 1,264,272 shares of the technology company’s stock worth $4,374,000 after buying an additional 279,106 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of TrueCar by 269.8% during the 4th quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company’s stock worth $96,000 after acquiring an additional 20,254 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors.

TrueCar Company Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.