MetLife Investment Management LLC Has $189,000 Stock Holdings in TrueCar, Inc. (NASDAQ:TRUE)

MetLife Investment Management LLC increased its position in shares of TrueCar, Inc. (NASDAQ:TRUE) by 77.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,615 shares of the technology company’s stock after purchasing an additional 22,032 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of TrueCar worth $189,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in shares of TrueCar by 19.4% in the third quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after acquiring an additional 16,163 shares during the last quarter. Barclays PLC grew its position in TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after acquiring an additional 81,745 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TrueCar by 58.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,903 shares of the technology company’s stock valued at $521,000 after purchasing an additional 55,731 shares in the last quarter. Assenagon Asset Management S.A. raised its position in TrueCar by 12.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,144 shares of the technology company’s stock valued at $706,000 after purchasing an additional 20,544 shares during the last quarter. Finally, R Squared Ltd acquired a new position in TrueCar in the fourth quarter worth $49,000. 79.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRUE shares. StockNews.com lowered TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley reaffirmed a “neutral” rating on shares of TrueCar in a research note on Wednesday. Citigroup cut shares of TrueCar to an “underweight” rating in a research note on Thursday, March 27th. Needham & Company LLC dropped their price objective on shares of TrueCar from $4.00 to $2.75 and set a “buy” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.19.

TrueCar Stock Performance

Shares of TrueCar stock opened at $1.45 on Friday. The firm has a fifty day moving average of $1.62 and a two-hundred day moving average of $2.97. The stock has a market capitalization of $126.90 million, a price-to-earnings ratio of -4.26 and a beta of 2.13. TrueCar, Inc. has a 52 week low of $1.05 and a 52 week high of $4.62.

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

About TrueCar

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.