Thames Capital Management LLC Takes $2.78 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Thames Capital Management LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 76,169 shares of the company’s stock, valued at approximately $2,783,000. Thames Capital Management LLC owned approximately 0.07% of CarGurus as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp boosted its position in CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares during the period. Principal Securities Inc. grew its holdings in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares during the last quarter. USA Financial Formulas acquired a new position in CarGurus in the 4th quarter valued at approximately $35,000. Finally, Quarry LP raised its stake in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the topic of several analyst reports. Oppenheimer reduced their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. downgraded shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

CarGurus Stock Performance

CarGurus stock opened at $26.29 on Friday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 146.06, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The stock’s 50 day moving average price is $33.92 and its two-hundred day moving average price is $34.28.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. On average, equities research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Buying and Selling at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the transaction, the chief executive officer now owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,203 shares of company stock worth $1,158,978. 17.20% of the stock is owned by corporate insiders.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.