KLP Kapitalforvaltning AS Purchases Shares of 14,500 Cars.com Inc. (NYSE:CARS)

KLP Kapitalforvaltning AS acquired a new position in shares of Cars.com Inc. (NYSE:CARS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,500 shares of the company’s stock, valued at approximately $251,000.

Several other large investors also recently made changes to their positions in CARS. Boston Partners increased its holdings in shares of Cars.com by 26.0% during the fourth quarter. Boston Partners now owns 3,178,426 shares of the company’s stock valued at $55,021,000 after acquiring an additional 655,518 shares in the last quarter. Barclays PLC increased its stake in Cars.com by 340.9% in the 3rd quarter. Barclays PLC now owns 108,177 shares of the company’s stock valued at $1,813,000 after buying an additional 83,642 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Cars.com by 35.9% during the fourth quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock worth $4,939,000 after acquiring an additional 74,133 shares during the period. Teacher Retirement System of Texas grew its stake in Cars.com by 199.0% in the 4th quarter. Teacher Retirement System of Texas now owns 109,714 shares of the company’s stock valued at $1,901,000 after purchasing an additional 73,018 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Cars.com by 2.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,559,142 shares of the company’s stock worth $44,350,000 after purchasing an additional 65,210 shares during the period. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CARS shares. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on Cars.com from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Finally, DA Davidson cut their price target on Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cars.com currently has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Cars.com Price Performance

Shares of Cars.com stock opened at $10.71 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. Cars.com Inc. has a 52-week low of $9.87 and a 52-week high of $21.24. The company has a fifty day moving average of $14.29 and a 200-day moving average of $16.34. The stock has a market capitalization of $683.80 million, a price-to-earnings ratio of 18.47 and a beta of 1.92.

Cars.com Company Profile

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.