Counterpoint Mutual Funds LLC Purchases 15,923 Shares of CarGurus, Inc. (NASDAQ:CARG)

Counterpoint Mutual Funds LLC raised its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 46.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,878 shares of the company’s stock after acquiring an additional 15,923 shares during the period. CarGurus makes up approximately 0.2% of Counterpoint Mutual Funds LLC’s holdings, making the stock its 18th biggest holding. Counterpoint Mutual Funds LLC’s holdings in CarGurus were worth $1,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares during the last quarter. 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 worth $33,000 after buying an additional 456 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus during the 3rd quarter valued at about $28,000. Principal Securities Inc. lifted 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 last quarter. Finally, USA Financial Formulas purchased a new position in CarGurus in the fourth quarter worth about $35,000. 86.90% of the stock is currently owned by institutional investors.

Insider Activity at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,888 shares of company stock worth $1,921,588 over the last three months. 17.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

CarGurus Price Performance

CarGurus stock opened at $30.78 on Monday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 171.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The firm has a 50-day moving average of $36.23 and a two-hundred day moving average of $34.20. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year 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 the consensus estimate 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 the consensus estimate of $231.72 million. Research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

CarGurus Company 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.