Two Sigma Investments LP purchased a new stake in TrueCar Inc (NASDAQ:TRUE) during the fourth quarter, Holdings Channel reports. The firm purchased 77,047 shares of the company’s stock, valued at approximately $963,000.
Several other institutional investors also recently bought and sold shares of TRUE. Trexquant Investment LP bought a new position in TrueCar during the fourth quarter valued at about $161,000. Capstone Investment Advisors LLC bought a new position in TrueCar during the fourth quarter valued at about $281,000. Bayesian Capital Management LP bought a new position in TrueCar during the fourth quarter valued at about $328,000. Engineers Gate Manager LP bought a new position in TrueCar during the third quarter valued at about $467,000. Finally, Quantitative Investment Management LLC raised its position in TrueCar by 219.9% in the third quarter. Quantitative Investment Management LLC now owns 54,700 shares of the company’s stock valued at $516,000 after buying an additional 37,600 shares in the last quarter. 63.62% of the stock is owned by hedge funds and other institutional investors.
TrueCar Inc (NASDAQ:TRUE) opened at 15.24 on Friday. The stock’s market cap is $1.32 billion. TrueCar Inc has a 12 month low of $5.05 and a 12 month high of $15.44. The firm has a 50-day moving average price of $14.23 and a 200-day moving average price of $11.96.
TrueCar (NASDAQ:TRUE) last released its earnings results on Thursday, February 16th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The business had revenue of $74.08 million for the quarter, compared to analyst estimates of $71.31 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. Equities research analysts expect that TrueCar Inc will post ($0.02) earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece was reported by Web Breaking News and is owned by of Web Breaking News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at http://www.webbreakingnews.com/2017/03/26/two-sigma-investments-lp-buys-new-position-in-truecar-inc-true.html.
Several research firms have recently issued reports on TRUE. B. Riley reaffirmed a “buy” rating and issued a $14.50 price target on shares of TrueCar in a research report on Saturday, December 24th. Cowen and Company lifted their price target on TrueCar from $8.00 to $10.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $19.00 price target (up previously from $17.00) on shares of TrueCar in a research report on Wednesday, February 15th. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. Finally, JMP Securities raised TrueCar from a “market perform” rating to an “outperform” rating and set a $17.00 price target for the company in a research report on Monday, January 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.39.
In other TrueCar news, EVP Neeraj Gunsagar sold 25,571 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $14.70, for a total value of $375,893.70. Following the sale, the executive vice president now owns 315,181 shares in the company, valued at $4,633,160.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 17.30% of the company’s stock.
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. 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 enterprises.
Want to see what other hedge funds are holding TRUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrueCar Inc (NASDAQ:TRUE).
Receive News & Ratings for TrueCar Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar Inc and related companies with MarketBeat.com's FREE daily email newsletter.