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

Counterpoint Mutual Funds LLC raised its stake in CarGurus, Inc. (NASDAQ:CARG) by 46.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,878 shares of the company’s stock after purchasing an additional 15,923 shares during the quarter. CarGurus accounts for 0.2% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 18th biggest position. Counterpoint Mutual Funds LLC’s holdings in CarGurus were worth $1,823,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in CarGurus during the 3rd quarter valued at $28,000. Global Retirement Partners LLC raised its stake in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the period. Principal Securities Inc. grew its stake in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in CarGurus during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction dated Friday, January 17th. The stock was 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 $4,421,271.96. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,888 shares of company stock worth $1,921,588. Company insiders own 17.20% of the company’s stock.

CarGurus Trading Up 2.1 %

CARG opened at $30.78 on Monday. The firm’s 50 day simple moving average is $36.23 and its two-hundred day simple moving average is $34.20. The company has a market capitalization of $3.21 billion, a PE ratio of 171.01, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG) last released its earnings results 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. Equities analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CARG. Oppenheimer cut their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. JMP Securities reissued a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of “Buy” and a consensus price target of $39.55.

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.