QS Investors LLC Invests $3.54 Million in CarGurus Inc (CARG)

QS Investors LLC purchased a new stake in shares of CarGurus Inc (NASDAQ:CARG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 104,900 shares of the company’s stock, valued at approximately $3,539,000. QS Investors LLC owned approximately 0.10% of CarGurus as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of CarGurus by 1,442.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,265 shares of the company’s stock valued at $4,872,000 after purchasing an additional 131,170 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of CarGurus in the 3rd quarter valued at $956,000. Victory Capital Management Inc. acquired a new stake in shares of CarGurus in the 3rd quarter valued at $2,002,000. Comerica Bank acquired a new stake in shares of CarGurus in the 3rd quarter valued at $722,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of CarGurus in the 3rd quarter valued at $1,251,000. Institutional investors and hedge funds own 72.07% of the company’s stock.

In other news, CEO Langley Steinert sold 117,406 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $42.52, for a total transaction of $4,992,103.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sarah Amory Welch sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $39.49, for a total transaction of $98,725.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,986,127 shares of company stock valued at $77,116,078. Company insiders own 51.03% of the company’s stock.

CarGurus stock opened at $38.52 on Friday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 37.65 and a beta of 1.97. CarGurus Inc has a fifty-two week low of $29.18 and a fifty-two week high of $57.25.

CARG has been the subject of several analyst reports. Citigroup initiated coverage on shares of CarGurus in a research note on Friday, December 7th. They issued a “buy” rating and a $45.00 price objective for the company. SunTrust Banks initiated coverage on shares of CarGurus in a research note on Monday, November 19th. They issued a “buy” rating and a $49.00 price objective for the company. Oppenheimer initiated coverage on shares of CarGurus in a research note on Tuesday, January 8th. They issued a “buy” rating and a $42.00 price objective for the company. Zacks Investment Research raised shares of CarGurus from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Friday, March 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $50.00 price objective on shares of CarGurus in a research note on Friday, March 1st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. CarGurus currently has an average rating of “Buy” and a consensus target price of $49.40.

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CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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