Picton Mahoney Asset Management Acquires 2,751 Shares of CarGurus, Inc. (NASDAQ:CARG)

Picton Mahoney Asset Management increased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 39.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,684 shares of the company’s stock after purchasing an additional 2,751 shares during the quarter. Picton Mahoney Asset Management’s holdings in CarGurus were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vestcor Inc bought a new position in CarGurus during the 4th quarter valued at about $1,169,000. EverSource Wealth Advisors LLC grew its stake in shares of CarGurus by 202,366.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,074 shares of the company’s stock worth $222,000 after acquiring an additional 6,071 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CarGurus by 46.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,222 shares of the company’s stock valued at $995,000 after purchasing an additional 8,638 shares during the last quarter. AlphaQuest LLC lifted its position in CarGurus by 399,500.0% during the fourth quarter. AlphaQuest LLC now owns 7,992 shares of the company’s stock valued at $292,000 after purchasing an additional 7,990 shares during the period. Finally, Amundi boosted its holdings in CarGurus by 440.9% in the fourth quarter. Amundi now owns 83,197 shares of the company’s stock worth $3,087,000 after purchasing an additional 67,816 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

CarGurus Trading Up 2.1 %

Shares of NASDAQ:CARG opened at $30.78 on Monday. The stock has a 50 day moving average of $36.23 and a 200 day moving average of $34.20. The company has a market cap of $3.21 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. Equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In other CarGurus news, COO Samuel Zales sold 9,857 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total value of $360,963.34. Following the sale, the chief operating officer now owns 434,821 shares in the company, valued at $15,923,145.02. The trade was a 2.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm’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 $163,872.40. Following the transaction, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,888 shares of company stock worth $1,921,588 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

CarGurus Profile

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.