CenterBook Partners LP Trims Stake in CarGurus, Inc. (NASDAQ:CARG)

CenterBook Partners LP lowered its holdings in CarGurus, Inc. (NASDAQ:CARG) by 35.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,215 shares of the company’s stock after selling 63,561 shares during the period. CenterBook Partners LP’s holdings in CarGurus were worth $4,320,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Global Retirement Partners LLC grew its position in CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after acquiring an additional 532 shares in the last quarter. Fifth Third Bancorp lifted its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. USA Financial Formulas bought a new position in shares of CarGurus during the 4th quarter valued at about $35,000. Finally, Quarry LP raised its holdings in shares of CarGurus by 155.8% during the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after buying an additional 913 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Trading Up 11.0 %

CarGurus stock opened at $27.95 on Thursday. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The firm has a market cap of $2.92 billion, a P/E ratio of 155.29, a P/E/G ratio of 1.72 and a beta of 1.46. The firm has a 50-day moving average of $32.56 and a 200-day moving average of $34.15.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CARG has been the subject of several research reports. Oppenheimer cut their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JMP Securities cut their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.95.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares of the company’s stock, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,203 shares of company stock valued at $1,158,978. 17.20% of the stock is currently owned by company insiders.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.