UBS Asset Management Americas Inc. Has $1.63 Million Holdings in CarGurus Inc (NASDAQ:CARG)

UBS Asset Management Americas Inc. lifted its holdings in shares of CarGurus Inc (NASDAQ:CARG) by 717.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,022 shares of the company’s stock after purchasing an additional 39,516 shares during the period. UBS Asset Management Americas Inc.’s holdings in CarGurus were worth $1,626,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Advisor Group Inc. raised its stake in CarGurus by 55.1% during the second quarter. Advisor Group Inc. now owns 1,194 shares of the company’s stock worth $42,000 after buying an additional 424 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in CarGurus by 2,651.8% during the second quarter. Point72 Hong Kong Ltd now owns 2,284 shares of the company’s stock worth $82,000 after buying an additional 2,201 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in CarGurus during the second quarter worth $90,000. DekaBank Deutsche Girozentrale bought a new position in CarGurus during the first quarter worth $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CarGurus during the second quarter worth $145,000. Institutional investors own 66.19% of the company’s stock.

A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of CarGurus from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Consumer Edge assumed coverage on shares of CarGurus in a research note on Friday, August 2nd. They issued an “overweight” rating for the company. Needham & Company LLC assumed coverage on shares of CarGurus in a research note on Thursday, September 12th. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised shares of CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. CarGurus has an average rating of “Buy” and an average price target of $48.42.

In other news, CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.69, for a total transaction of $4,307,626.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sarah Amory Welch sold 2,500 shares of CarGurus stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.61, for a total transaction of $79,025.00. The disclosure for this sale can be found here. Insiders have sold 1,867,583 shares of company stock valued at $63,269,257 over the last quarter. Corporate insiders own 34.51% of the company’s stock.

Shares of NASDAQ CARG opened at $29.33 on Friday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 98.90, a P/E/G ratio of 2.92 and a beta of 1.87. The company has a 50-day moving average price of $32.11 and a 200-day moving average price of $35.60. CarGurus Inc has a 1 year low of $28.65 and a 1 year high of $49.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.68 and a quick ratio of 2.68.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $145.03 million during the quarter, compared to analysts’ expectations of $140.67 million. CarGurus had a net margin of 8.22% and a return on equity of 17.12%. The business’s revenue was up 31.5% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. As a group, equities research analysts anticipate that CarGurus Inc will post 0.28 earnings per share for the current fiscal year.

About CarGurus

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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