Newport Trust Co Sells 1,157,395 Shares of Cars.com Inc. (CARS)

Newport Trust Co trimmed its holdings in Cars.com Inc. (NYSE:CARS) by 64.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 626,694 shares of the company’s stock after selling 1,157,395 shares during the period. Newport Trust Co owned about 0.90% of Cars.com worth $17,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Cars.com by 9.2% in the second quarter. Bank of New York Mellon Corp now owns 1,001,230 shares of the company’s stock valued at $28,426,000 after purchasing an additional 84,507 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Cars.com in the third quarter valued at about $400,000. Bank of America Corp DE raised its holdings in shares of Cars.com by 129.9% in the second quarter. Bank of America Corp DE now owns 431,519 shares of the company’s stock valued at $12,251,000 after purchasing an additional 243,813 shares during the last quarter. AMS Capital Ltda purchased a new stake in shares of Cars.com in the third quarter valued at about $1,770,000. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Cars.com in the second quarter valued at about $226,000.

CARS opened at $25.33 on Friday. The stock has a market capitalization of $1.74 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 2.74 and a beta of 0.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Cars.com Inc. has a twelve month low of $23.44 and a twelve month high of $32.94.

Cars.com (NYSE:CARS) last posted its earnings results on Wednesday, November 7th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $168.04 million. Cars.com had a return on equity of 7.77% and a net margin of 27.69%. Cars.com’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities research analysts anticipate that Cars.com Inc. will post 1.85 EPS for the current fiscal year.

A number of analysts recently issued reports on CARS shares. Zacks Investment Research downgraded shares of Cars.com from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. BTIG Research started coverage on shares of Cars.com in a report on Tuesday, November 13th. They set a “neutral” rating for the company. Barrington Research restated a “buy” rating on shares of Cars.com in a report on Monday, November 12th. ValuEngine upgraded shares of Cars.com from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, Benchmark restated a “hold” rating on shares of Cars.com in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $37.13.

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Cars.com Company Profile

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.

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Institutional Ownership by Quarter for Cars.com (NYSE:CARS)

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