Short Interest in Cars.com Inc. (NYSE:CARS) Decreases By 10.4%

Cars.com Inc. (NYSE:CARS) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,640,000 shares, a decrease of 10.4% from the October 15th total of 1,830,000 shares. Based on an average daily volume of 593,800 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. B. Riley cut their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research note on Wednesday, November 13th. UBS Group boosted their target price on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, November 8th.

Cars.com Stock Down 0.2 %

Shares of Cars.com stock traded down $0.04 during midday trading on Monday, hitting $18.68. The company had a trading volume of 384,443 shares, compared to its average volume of 482,169. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $1.21 billion, a P/E ratio of 32.33 and a beta of 2.10. The company has a 50 day moving average of $16.78 and a 200 day moving average of $18.07. Cars.com has a 52-week low of $15.05 and a 52-week high of $21.24.

Hedge Funds Weigh In On Cars.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Cars.com during the first quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cars.com during the second quarter worth about $38,000. CWM LLC raised its stake in Cars.com by 253.2% during the 2nd quarter. CWM LLC now owns 2,197 shares of the company’s stock valued at $43,000 after purchasing an additional 1,575 shares during the period. Advisors Asset Management Inc. lifted its holdings in Cars.com by 145.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after purchasing an additional 1,864 shares in the last quarter. Finally, MQS Management LLC bought a new position in Cars.com in the 3rd quarter worth approximately $171,000. 89.15% of the stock is owned by institutional investors.

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.