Quantamental Technologies LLC Sells 2,500 Shares of TrueCar Inc (NASDAQ:TRUE)
Quantamental Technologies LLC lowered its holdings in shares of TrueCar Inc (NASDAQ:TRUE) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,569 shares of the technology company’s stock after selling 2,500 shares during the quarter. Quantamental Technologies LLC’s holdings in TrueCar were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in TrueCar by 128.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,659 shares of the technology company’s stock worth $9,719,000 after purchasing an additional 602,448 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in TrueCar by 1,117.5% in the first quarter. BNP Paribas Arbitrage SA now owns 21,441 shares of the technology company’s stock valued at $142,000 after acquiring an additional 19,680 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in TrueCar by 5.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 48,062 shares of the technology company’s stock valued at $319,000 after acquiring an additional 2,436 shares during the period. Acadian Asset Management LLC acquired a new stake in TrueCar in the first quarter valued at $409,000. Finally, Alambic Investment Management L.P. acquired a new stake in TrueCar in the first quarter valued at $377,000. Institutional investors and hedge funds own 90.74% of the company’s stock.
In other news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $5.41, for a total value of $41,489.29. Following the completion of the sale, the executive vice president now directly owns 121,744 shares in the company, valued at approximately $658,635.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is currently owned by insiders.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.06. TrueCar had a negative return on equity of 11.45% and a negative net margin of 14.25%. The firm had revenue of $88.08 million for the quarter, compared to analyst estimates of $89.20 million. During the same period in the previous year, the company posted $0.03 EPS. TrueCar’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts expect that TrueCar Inc will post -0.58 EPS for the current fiscal year.
TRUE has been the subject of several research reports. Needham & Company LLC initiated coverage on TrueCar in a research note on Thursday. They set a “hold” rating for the company. Cowen set a $5.00 price target on TrueCar and gave the company a “hold” rating in a report on Friday, August 9th. Zacks Investment Research cut TrueCar from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Citigroup lowered their price target on TrueCar from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, ValuEngine upgraded TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. TrueCar currently has an average rating of “Hold” and a consensus target price of $8.71.
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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