Short-term stake in Cars.com Inc. (NYSE:CARS) drops 18.5%

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Cars.com Inc. (NYSE:CARS- Get an assessment) was the target of a sharp drop in short-term interest in August. As of August 31, there was short interest totaling 2,740,000 shares, down 18.5% from the total of 3,360,000 shares as of August 15. Based on an average daily volume of 434,100 shares, the day-to-cover ratio is currently 6.3 days. Approximately 4.4% of the company’s shares are sold short.

Stock Cars.com up 0.1%

CARS traded at $0.01 during Friday’s midday session, hitting $11.11. 1,534,627 shares were traded, against an average volume of 362,301. The company has a debt ratio of 1.27, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $753.92 million, a PE ratio of 138.89 and a beta of 1.96. The company has a 50-day moving average price of $12.03 and a two-hundred-day moving average price of $11.89. Cars.com has a 1 year minimum of $8.75 and a 1 year maximum of $19.09.

Cars.com (NYSE:CARS – Get an assessment) last released its quarterly earnings data on Wednesday, August 3. The company reported earnings per share (EPS) of $0.08 for the quarter, beating analyst consensus estimates of $0.05 by $0.03. The company posted revenue of $162.87 million for the quarter, versus a consensus estimate of $161.89 million. Cars.com had a net margin of 1.00% and a return on equity of 1.67%. As a group, research analysts expect Cars.com to post EPS of 0.46 for the current year.

Hedge funds weigh on Cars.com

A number of hedge funds have recently bought and sold shares of CARS. Eaton Vance Management bought a new position in Cars.com stock in Q4 worth about $38,000. Private Trust Co. NA bought a new position in Cars.com stock in Q2 for about $48,000. Captrust Financial Advisors increased its holdings of Cars.com shares by 117.4% in Q2. Captrust Financial Advisors now owns 5,392 shares of the company worth $51,000 after buying 2,912 additional shares in the last quarter. KBC Group NV bought a new position in shares of Cars.com in the 2nd quarter for a value of approximately $51,000. Finally, Miracle Mile Advisors LLC bought a new position in Cars.com stock in Q1 worth approximately $146,000. 99.90% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of brokerages have commented on CARS. DA Davidson reduced his price target on Cars.com stock to $18.00 in a Tuesday, August 9 research note. BTIG Research raised its price target on Cars.com shares to $18.00 in a Tuesday, August 9 research note. One research analyst has rated the stock with a hold rating and three have assigned the stock a buy rating. According to MarketBeat, Cars.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

About Cars.com

(Get an assessment)

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealerships with consumers in the United States. The company offers a suite of digital solutions that connects people looking for cars or looking to buy a car with car dealerships and automotive original equipment manufacturers.

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