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

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

Cars.com Stock Down 1.0 %

CARS stock traded down $0.18 during trading on Tuesday, hitting $18.50. 610,305 shares of the stock traded hands, compared to its average volume of 482,741. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 32.21 and a beta of 2.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s 50 day moving average is $16.80 and its two-hundred day moving average is $18.08. Cars.com has a 1 year low of $15.05 and a 1 year high of $21.24.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Cars.com by 1.7% during the third quarter. FMR LLC now owns 9,902,561 shares of the company’s stock valued at $165,967,000 after purchasing an additional 162,692 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cars.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock worth $123,983,000 after buying an additional 81,645 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Cars.com by 62,357.6% in the third quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company’s stock valued at $41,798,000 after buying an additional 2,489,939 shares in the last quarter. State Street Corp lifted its position in shares of Cars.com by 0.6% during the 3rd quarter. State Street Corp now owns 2,419,422 shares of the company’s stock valued at $40,550,000 after buying an additional 15,038 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Cars.com by 25.0% in the first quarter. Boston Partners now owns 2,153,942 shares of the company’s stock valued at $36,972,000 after acquiring an additional 430,654 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

About Cars.com

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.