State Board of Administration of Florida Retirement System Purchases Shares of 48,231 Cars.com Inc (CARS)

State Board of Administration of Florida Retirement System purchased a new stake in Cars.com Inc (NASDAQ:CARS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,231 shares of the company’s stock, valued at approximately $1,284,000. State Board of Administration of Florida Retirement System owned approximately 0.07% of Cars.com as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Lapides Asset Management LLC acquired a new position in shares of Cars.com in the second quarter valued at about $2,811,000. KBC Group NV acquired a new position in shares of Cars.com in the second quarter valued at about $496,000. First Personal Financial Services acquired a new position in shares of Cars.com in the second quarter valued at about $118,000. BNP Paribas Arbitrage SA acquired a new position in shares of Cars.com in the second quarter valued at about $974,000. Finally, Legal & General Group Plc acquired a new position in shares of Cars.com in the second quarter valued at about $8,774,000.

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Several equities analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Cars.com in a research note on Thursday, July 20th. They issued a “hold” rating and a $25.00 price target on the stock. Barrington Research began coverage on shares of Cars.com in a research report on Tuesday, June 6th. They set an “outperform” rating for the company.

Shares of Cars.com Inc (NASDAQ:CARS) opened at 25.98 on Tuesday. The company’s 50-day moving average is $25.43 and its 200 day moving average is $25.70. The company has a market cap of $1.86 billion and a PE ratio of 12.22. Cars.com Inc has a 52-week low of $19.90 and a 52-week high of $29.47.

Cars.com (NASDAQ:CARS) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The company had revenue of $156.62 million during the quarter, compared to analyst estimates of $157.00 million. During the same quarter last year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts anticipate that Cars.com Inc will post $1.35 EPS for the current year.

Cars.com Company Profile

Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.

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

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