TrueCar (TRUE) Shares Down 6.1%

TrueCar Inc (NASDAQ:TRUE)’s share price was down 6.1% during trading on Friday . The company traded as low as $10.85 and last traded at $11.18. Approximately 8,454,142 shares traded hands during mid-day trading, an increase of 383% from the average daily volume of 1,751,622 shares. The stock had previously closed at $11.91.

A number of equities analysts have commented on TRUE shares. Royal Bank of Canada dropped their price objective on shares of TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. B. Riley reissued a “buy” rating and issued a $18.00 price objective (down from $21.00) on shares of TrueCar in a research note on Tuesday, October 31st. ValuEngine cut shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Stephens set a $18.00 price objective on shares of TrueCar and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.56.

The company has a market cap of $1,117.85, a price-to-earnings ratio of -31.94 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.31 and a quick ratio of 6.31.

TrueCar (NASDAQ:TRUE) last released its earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The firm had revenue of $83.13 million during the quarter, compared to analyst estimates of $81.72 million. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.96%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. equities research analysts anticipate that TrueCar Inc will post -0.21 earnings per share for the current year.

In other news, SVP John Pierantoni sold 2,494 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the completion of the sale, the senior vice president now owns 57,513 shares in the company, valued at approximately $649,321.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neeraj Gunsagar sold 10,443 shares of TrueCar stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $11.28, for a total transaction of $117,797.04. Following the sale, the executive vice president now owns 254,144 shares of the company’s stock, valued at approximately $2,866,744.32. The disclosure for this sale can be found here. Insiders sold a total of 15,670 shares of company stock valued at $177,654 in the last 90 days. Company insiders own 15.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caledonia Private Investments Pty Ltd lifted its holdings in TrueCar by 1.4% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 16,474,191 shares of the technology company’s stock valued at $184,511,000 after buying an additional 233,433 shares in the last quarter. Senvest Management LLC lifted its holdings in TrueCar by 72.6% during the 4th quarter. Senvest Management LLC now owns 6,859,792 shares of the technology company’s stock valued at $76,830,000 after buying an additional 2,884,407 shares in the last quarter. Vanguard Group Inc. lifted its holdings in TrueCar by 43.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after buying an additional 2,004,642 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in TrueCar by 63.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 4,500,000 shares of the technology company’s stock valued at $50,400,000 after buying an additional 1,750,000 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in TrueCar by 2.1% during the 4th quarter. BlackRock Inc. now owns 4,453,802 shares of the technology company’s stock valued at $49,882,000 after buying an additional 93,523 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “TrueCar (TRUE) Shares Down 6.1%” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://ledgergazette.com/2018/02/18/truecar-true-shares-down-6-1.html.

About TrueCar

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.

Receive News & Ratings for TrueCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply