Cars.com Inc. (NYSE:CARS – Get Rating) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,670,000 shares, a drop of 8.7% from the January 15th total of 1,830,000 shares. Based on an average trading volume of 391,700 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.8% of the shares of the stock are sold short.
Cars.com Stock Performance
Shares of NYSE CARS opened at $18.34 on Thursday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 1,835.84 and a beta of 1.97. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.28. Cars.com has a 1-year low of $8.75 and a 1-year high of $18.40. The stock’s 50-day moving average is $15.12 and its 200 day moving average is $13.73.
Hedge Funds Weigh In On Cars.com
A number of large investors have recently modified their holdings of the company. Jane Street Group LLC raised its holdings in shares of Cars.com by 57.8% during the 4th quarter. Jane Street Group LLC now owns 21,228 shares of the company’s stock valued at $292,000 after buying an additional 7,775 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Cars.com by 4.0% during the 4th quarter. Lazard Asset Management LLC now owns 460,280 shares of the company’s stock valued at $6,338,000 after buying an additional 17,903 shares in the last quarter. Vestcor Inc purchased a new position in Cars.com in the 4th quarter worth approximately $212,000. Legal & General Group Plc increased its stake in Cars.com by 0.6% in the 4th quarter. Legal & General Group Plc now owns 155,252 shares of the company’s stock worth $2,138,000 after purchasing an additional 984 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Cars.com by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,692 shares of the company’s stock worth $436,000 after purchasing an additional 2,601 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, DA Davidson dropped their price target on Cars.com from $18.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, November 4th.
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.