The Manufacturers Life Insurance Company Acquires New Holdings in Cars.com Inc (CARS)
The Manufacturers Life Insurance Company acquired a new position in Cars.com Inc (NASDAQ:CARS) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 158,953 shares of the company’s stock, valued at approximately $4,233,000. The Manufacturers Life Insurance Company owned approximately 0.22% of Cars.com at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CARS. Regentatlantic Capital LLC bought a new position in Cars.com in the 2nd quarter worth approximately $557,000. Russell Investments Group Ltd. bought a new position in Cars.com in the 2nd quarter worth approximately $4,787,000. Acadian Asset Management LLC bought a new position in Cars.com in the 2nd quarter worth approximately $6,405,000. ING Groep NV bought a new position in Cars.com in the 2nd quarter worth approximately $239,000. Finally, Strs Ohio bought a new position in Cars.com in the 2nd quarter worth approximately $585,000.
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Cars.com (NASDAQ:CARS) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.40. The company had revenue of $156.62 million during the quarter, compared to analyst estimates of $157.00 million. Cars.com had a net margin of 15.84% and a return on equity of 5.13%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share.
A number of brokerages recently issued reports on CARS. B. Riley began coverage on Cars.com in a report on Monday, October 2nd. They issued a “buy” rating and a $36.00 price objective for the company. Craig Hallum began coverage on Cars.com in a report on Thursday, July 20th. They issued a “hold” rating and a $25.00 price objective for the company.
Cars.com Company Profile
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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