Short Interest in Cars.com Inc. (NYSE:CARS) Decreases By 10.4%

Cars.com Inc. (NYSE:CARS) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,640,000 shares, a decline of 10.4% from the October 15th total of 1,830,000 shares. Based on an average daily trading volume, of 593,800 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in shares of Cars.com by 7.5% during the first quarter. ProShare Advisors LLC now owns 13,307 shares of the company’s stock valued at $229,000 after purchasing an additional 925 shares during the period. BNP Paribas Financial Markets lifted its stake in Cars.com by 8.0% in the third quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company’s stock worth $244,000 after purchasing an additional 1,075 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Cars.com by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 31,832 shares of the company’s stock valued at $627,000 after acquiring an additional 1,101 shares during the period. CWM LLC boosted its stake in shares of Cars.com by 62.4% during the 3rd quarter. CWM LLC now owns 3,569 shares of the company’s stock valued at $60,000 after purchasing an additional 1,372 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Cars.com by 8.7% during the second quarter. TD Asset Management Inc now owns 19,900 shares of the company’s stock worth $392,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CARS. UBS Group increased their price target on shares of Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Wednesday, November 13th. B. Riley dropped their price objective on Cars.com from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, November 8th.

Cars.com Trading Down 1.0 %

Shares of Cars.com stock traded down $0.18 on Tuesday, hitting $18.50. 610,305 shares of the company’s stock traded hands, compared to its average volume of 482,741. The stock has a market capitalization of $1.20 billion, a PE ratio of 32.21 and a beta of 2.10. The firm’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $18.08. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. Cars.com has a one year low of $15.05 and a one year high of $21.24.

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.