Ion Yadigaroglu Sells 73,166 Shares of TrueCar, Inc. (TRUE) Stock
TrueCar, Inc. (NASDAQ:TRUE) Director Ion Yadigaroglu sold 73,166 shares of TrueCar stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $16.40, for a total transaction of $1,199,922.40. Following the completion of the transaction, the director now owns 19,539 shares in the company, valued at approximately $320,439.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ion Yadigaroglu also recently made the following trade(s):
- On Thursday, August 24th, Ion Yadigaroglu sold 122,766 shares of TrueCar stock. The stock was sold at an average price of $16.45, for a total transaction of $2,019,500.70.
Shares of TrueCar, Inc. (NASDAQ TRUE) opened at 16.31 on Friday. The firm’s market cap is $1.61 billion. TrueCar, Inc. has a 52 week low of $8.09 and a 52 week high of $21.75. The firm’s 50 day moving average is $18.73 and its 200-day moving average is $16.93.
TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The company had revenue of $81.82 million for the quarter, compared to the consensus estimate of $80.75 million. During the same quarter in the previous year, the company earned ($0.05) EPS. TrueCar’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that TrueCar, Inc. will post $0.02 EPS for the current year.
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Several equities analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and set a $21.00 price objective on shares of TrueCar in a research report on Saturday. Cowen and Company reiterated a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $23.00 price objective (up from $22.00) on shares of TrueCar in a research report on Thursday, August 10th. Morgan Stanley reiterated an “underweight” rating and set a $13.00 price objective (up from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Finally, Zacks Investment Research cut shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.56.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRUE. Teachers Advisors LLC increased its position in TrueCar by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 92,822 shares of the technology company’s stock worth $1,160,000 after buying an additional 5,030 shares during the last quarter. Profund Advisors LLC raised its stake in shares of TrueCar by 3.7% in the first quarter. Profund Advisors LLC now owns 46,907 shares of the technology company’s stock worth $726,000 after buying an additional 1,667 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of TrueCar during the first quarter worth approximately $141,000. Russell Investments Group Ltd. raised its stake in shares of TrueCar by 351.6% in the first quarter. Russell Investments Group Ltd. now owns 703,307 shares of the technology company’s stock worth $10,880,000 after buying an additional 547,586 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in shares of TrueCar by 9.3% in the first quarter. Chicago Equity Partners LLC now owns 62,050 shares of the technology company’s stock worth $960,000 after buying an additional 5,270 shares during the period. Institutional investors own 84.57% of the company’s stock.
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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