Cars.com Inc. (NYSE:CARS) Short Interest Update

Cars.com Inc. (NYSE:CARS) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 1,750,000 shares, an increase of 14.4% from the December 31st total of 1,530,000 shares. Based on an average daily volume of 545,500 shares, the short-interest ratio is presently 3.2 days. Approximately 3.0% of the company’s stock are sold short.

Cars.com Stock Down 3.2 %

CARS stock opened at $17.91 on Monday. The business’s 50-day moving average price is $18.11 and its 200-day moving average price is $17.72. The stock has a market cap of $1.16 billion, a P/E ratio of 30.88 and a beta of 2.15. Cars.com has a twelve month low of $15.05 and a twelve month high of $21.24. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CARS. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, UBS Group increased their price target on shares of Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th.

Insiders Place Their Bets

In other Cars.com news, Director Jill A. Greenthal sold 4,524 shares of Cars.com stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total value of $89,846.64. Following the completion of the sale, the director now owns 101,963 shares of the company’s stock, valued at approximately $2,024,985.18. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sonia Jain sold 24,971 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total value of $492,927.54. Following the transaction, the chief financial officer now directly owns 229,229 shares in the company, valued at $4,524,980.46. The trade was a 9.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On Cars.com

Hedge funds have recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in shares of Cars.com by 35.9% during the 4th quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock valued at $4,939,000 after buying an additional 74,133 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Cars.com in the third quarter valued at about $1,222,000. Victory Capital Management Inc. boosted its stake in shares of Cars.com by 130.9% in the third quarter. Victory Capital Management Inc. now owns 46,344 shares of the company’s stock worth $777,000 after acquiring an additional 26,276 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Cars.com by 60.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 18,229 shares of the company’s stock worth $316,000 after purchasing an additional 6,855 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in Cars.com by 21.0% during the 3rd quarter. Park Avenue Securities LLC now owns 15,496 shares of the company’s stock valued at $260,000 after purchasing an additional 2,694 shares during the period. 89.15% of the stock is currently owned by institutional investors.

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.