Cars.com Inc. (NYSE:CARS) Short Interest Down 10.4% in October

Cars.com Inc. (NYSE:CARS) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,640,000 shares, a decrease of 10.4% from the October 15th total of 1,830,000 shares. Based on an average trading volume of 593,800 shares, the short-interest ratio is currently 2.8 days. Currently, 2.8% of the shares of the stock are sold short.

Cars.com Price Performance

NYSE CARS traded down $0.16 during trading hours on Tuesday, reaching $18.52. 446,046 shares of the stock traded hands, compared to its average volume of 481,664. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a 50 day simple moving average of $16.80 and a two-hundred day simple moving average of $18.08. Cars.com has a 1 year low of $15.05 and a 1 year high of $21.24. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 32.21 and a beta of 2.10.

Analyst Upgrades and Downgrades

CARS has been the subject of several analyst reports. Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a report on Wednesday, November 13th. B. Riley dropped their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Cars.com from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, UBS Group raised their price target on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 8th.

Institutional Trading of Cars.com

A number of hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Cars.com during the first quarter worth approximately $28,000. Russell Investments Group Ltd. grew its holdings in shares of Cars.com by 50.3% during the 1st quarter. Russell Investments Group Ltd. now owns 615,408 shares of the company’s stock valued at $10,573,000 after purchasing an additional 205,871 shares during the last quarter. ProShare Advisors LLC raised its position in Cars.com by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 13,307 shares of the company’s stock worth $229,000 after purchasing an additional 925 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Cars.com by 30.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,685 shares of the company’s stock worth $424,000 after purchasing an additional 5,690 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Cars.com by 1.1% during the first quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after buying an additional 81,645 shares during the period. Institutional investors own 89.15% of the company’s stock.

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.