205,093 Shares in Cars.com Inc (CARS) Acquired by Sprucegrove Investment Management Ltd.
Sprucegrove Investment Management Ltd. bought a new stake in Cars.com Inc (NASDAQ:CARS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 205,093 shares of the company’s stock, valued at approximately $5,462,000. Sprucegrove Investment Management Ltd. owned about 0.29% of Cars.com at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Cars.com in the second quarter valued at about $213,818,000. Vanguard Group Inc. bought a new position in Cars.com in the second quarter valued at about $167,497,000. Artisan Partners Limited Partnership bought a new position in Cars.com in the second quarter valued at about $120,572,000. New South Capital Management Inc. bought a new position in Cars.com in the second quarter valued at about $77,402,000. Finally, Abrams Capital Management L.P. bought a new position in Cars.com in the second quarter valued at about $66,575,000.
Cars.com (NASDAQ:CARS) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The firm had revenue of $156.62 million during the quarter, compared to analysts’ expectations of $157.00 million. During the same period in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year.
Several equities analysts have commented on the company. B. Riley assumed coverage on Cars.com in a research report on Friday. They issued a “buy” rating and a $36.00 target price for the company. Craig Hallum assumed coverage on Cars.com in a research report on Thursday, July 20th. They issued a “hold” rating and a $25.00 target price for the company. Finally, Barrington Research assumed coverage on Cars.com in a research report on Tuesday, June 6th. They issued an “outperform” rating for the company.
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Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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