Comerica Bank Purchases 1,248 Shares of CarGurus Inc (NASDAQ:CARG)

Comerica Bank boosted its stake in CarGurus Inc (NASDAQ:CARG) by 7.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,632 shares of the company’s stock after buying an additional 1,248 shares during the period. Comerica Bank’s holdings in CarGurus were worth $740,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CARG. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of CarGurus by 0.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,080 shares of the company’s stock worth $2,086,000 after purchasing an additional 460 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in CarGurus in the fourth quarter worth approximately $30,000. NEXT Financial Group Inc increased its holdings in CarGurus by 50.1% in the fourth quarter. NEXT Financial Group Inc now owns 5,555 shares of the company’s stock worth $187,000 after buying an additional 1,855 shares during the last quarter. Two Sigma Advisers LP increased its holdings in CarGurus by 0.3% in the fourth quarter. Two Sigma Advisers LP now owns 777,920 shares of the company’s stock worth $26,239,000 after buying an additional 2,000 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in CarGurus in the fourth quarter worth approximately $78,000. Institutional investors own 74.79% of the company’s stock.

In related news, Director Anastasios Parafestas sold 42,260 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $40.29, for a total transaction of $1,702,655.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kathleen Bender Patton sold 2,413 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $35.80, for a total value of $86,385.40. The disclosure for this sale can be found here. In the last three months, insiders sold 3,159,605 shares of company stock valued at $120,735,707. Insiders own 34.51% of the company’s stock.

Shares of CARG stock traded up $0.82 during trading on Friday, reaching $36.11. 929,820 shares of the company’s stock were exchanged, compared to its average volume of 885,539. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.74 and a quick ratio of 2.74. The business has a fifty day moving average price of $36.21. CarGurus Inc has a twelve month low of $30.29 and a twelve month high of $57.25. The stock has a market capitalization of $4.00 billion, a PE ratio of 63.35, a PEG ratio of 3.91 and a beta of 1.95.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $135.30 million for the quarter, compared to analyst estimates of $129.54 million. CarGurus had a return on equity of 18.43% and a net margin of 13.94%. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts anticipate that CarGurus Inc will post 0.23 EPS for the current fiscal year.

Several equities analysts have commented on the company. BidaskClub downgraded CarGurus from a “buy” rating to a “hold” rating in a report on Friday. SunTrust Banks reaffirmed a “buy” rating and issued a $54.00 target price on shares of CarGurus in a research report on Wednesday, June 12th. Cowen began coverage on CarGurus in a research report on Monday, May 20th. They issued a “market perform” rating and a $42.00 target price for the company. TheStreet cut CarGurus from a “c-” rating to a “d+” rating in a research report on Tuesday, May 14th. Finally, Zacks Investment Research cut CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $49.25.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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