CarGurus, Inc. (NASDAQ:CARG) Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,450 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.13% of CarGurus worth $4,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 532 shares during the period. Fifth Third Bancorp increased its holdings in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after acquiring an additional 456 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of CarGurus in the 3rd quarter valued at $28,000. Principal Securities Inc. increased its holdings in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after acquiring an additional 424 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of CarGurus in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, CMO Dafna Sarnoff sold 10,570 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the sale, the chief marketing officer now directly owns 95,261 shares in the company, valued at $3,408,438.58. The trade was a 9.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the sale, the chief operating officer now owns 400,025 shares in the company, valued at $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock worth $2,229,388 in the last three months. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $39.55.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $30.11 on Friday. The firm has a market capitalization of $3.14 billion, a P/E ratio of 167.29, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company’s fifty day moving average is $35.58 and its two-hundred day moving average is $34.17.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, sell-side analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

About CarGurus

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.