Leuthold Group LLC Buys Shares of 156,736 CarGurus, Inc. (NASDAQ:CARG)

Leuthold Group LLC purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 156,736 shares of the company’s stock, valued at approximately $3,787,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. M&T Bank Corp increased its stake in CarGurus by 0.8% during the third quarter. M&T Bank Corp now owns 104,052 shares of the company’s stock valued at $1,823,000 after purchasing an additional 850 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of CarGurus during the 4th quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CarGurus by 10.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock worth $437,000 after purchasing an additional 1,653 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of CarGurus in the 3rd quarter worth approximately $30,000. Finally, Acadian Asset Management LLC acquired a new position in CarGurus during the 3rd quarter valued at approximately $32,000. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CARG shares. UBS Group raised their price target on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Oppenheimer lifted their target price on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Needham & Company LLC boosted their target price on shares of CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of CarGurus in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $24.90.

CarGurus Stock Up 0.2 %

Shares of CARG traded up $0.04 during mid-day trading on Tuesday, reaching $23.04. The company’s stock had a trading volume of 54,409 shares, compared to its average volume of 951,455. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 127.78, a price-to-earnings-growth ratio of 1.38 and a beta of 1.57. The business has a fifty day moving average of $22.78 and a 200 day moving average of $22.25. CarGurus, Inc. has a 1 year low of $16.02 and a 1 year high of $24.64.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million during the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The firm’s revenue was down 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. On average, analysts predict that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Insider Activity

In other news, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now owns 548,845 shares in the company, valued at approximately $11,756,259.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Javier Esquivel Zamora sold 23,557 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $521,316.41. Following the sale, the general counsel now directly owns 111,589 shares of the company’s stock, valued at $2,469,464.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is owned by corporate insiders.

CarGurus Profile

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.