Monimus Capital Management LP Invests $362,000 in CarGurus, Inc. (NASDAQ:CARG)

Monimus Capital Management LP acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,903 shares of the company’s stock, valued at approximately $362,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of CarGurus by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after buying an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of CarGurus by 36.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock worth $3,210,000 after buying an additional 23,445 shares during the last quarter. State Street Corp lifted its stake in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares during the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new stake in CarGurus in the 3rd quarter valued at about $503,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CARG has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Oppenheimer lowered their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

Insider Buying and Selling at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the sale, the chief executive officer now owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 7,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $37.70, for a total transaction of $282,750.00. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at approximately $16,392,751.70. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,388 shares of company stock valued at $2,204,338. Insiders own 17.20% of the company’s stock.

CarGurus Price Performance

NASDAQ:CARG opened at $30.78 on Friday. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company’s 50-day simple moving average is $36.33 and its 200 day simple moving average is $34.11. The firm has a market capitalization of $3.21 billion, a P/E ratio of 171.01, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. On average, equities research analysts expect 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.