Arrowstreet Capital Limited Partnership Increases Stake in TrueCar, Inc. (NASDAQ:TRUE)

Arrowstreet Capital Limited Partnership raised its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 75.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 521,467 shares of the technology company’s stock after purchasing an additional 224,969 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in TrueCar were worth $1,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of TrueCar in the fourth quarter valued at approximately $49,000. BNP Paribas Financial Markets grew its stake in TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after buying an additional 8,027 shares in the last quarter. Jane Street Group LLC grew its stake in TrueCar by 19.4% in the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after buying an additional 16,163 shares in the last quarter. Barclays PLC raised its holdings in TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after acquiring an additional 81,745 shares during the period. Finally, Noesis Capital Mangement Corp lifted its position in shares of TrueCar by 25.0% during the fourth quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company’s stock worth $466,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors own 79.44% of the company’s stock.

Analyst Upgrades and Downgrades

TRUE has been the subject of several recent research reports. Citigroup cut TrueCar to an “underweight” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. lowered TrueCar from a “neutral” rating to an “underweight” rating in a report on Thursday, March 27th. StockNews.com downgraded shares of TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Needham & Company LLC reduced their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.63.

TrueCar Stock Down 8.8 %

Shares of NASDAQ TRUE opened at $1.45 on Friday. The stock’s 50-day simple moving average is $2.24 and its two-hundred day simple moving average is $3.26. TrueCar, Inc. has a twelve month low of $1.30 and a twelve month high of $4.62. The firm has a market capitalization of $126.52 million, a P/E ratio of -4.26 and a beta of 1.97.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $46.21 million for the quarter, compared to analysts’ expectations of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. As a group, research analysts anticipate that TrueCar, Inc. will post -0.19 EPS for the current fiscal year.

TrueCar 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.