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UBS initates Cars.com (CARS) stock to a Neutral

Cars.com’s recent filing unveils that its Pres. and Chief Comm. Officer Miller Douglas Neal unloaded Company’s shares for reported $0.27 million on Mar 08 ’24. In the deal valued at $18.54 per share,14,344 shares were sold. As a result of this transaction, Miller Douglas Neal now holds 167,252 shares worth roughly $2.94 million.

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Then, Miller Douglas Neal sold 1,823 shares, generating $33,726 in total proceeds. Upon selling the shares at $18.50, the Pres. and Chief Comm. Officer now owns 181,596 shares.

Before that, Miller Douglas Neal sold 16,167 shares. Cars.com shares valued at $293,431 were divested by the Pres. and Chief Comm. Officer at a price of $18.15 per share. As a result of the transaction, Miller Douglas Neal now holds 183,419 shares, worth roughly $3.23 million.

UBS initiated its Cars.com [CARS] rating to a Neutral in a research note published on September 15, 2023; the price target was $20. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who began to cover the stock in mid July with a ‘”a Buy”‘ rating. JP Morgan began covering CARS with “an Overweight” recommendation on June 27, 2023. BTIG Research maintained its rating on June 21, 2022. It rated CARS as “a Buy”.

Price Performance Review of CARS

On Friday, Cars.com [NYSE:CARS] saw its stock fall -5.58% to $17.60. Over the last five days, the stock has gained 2.98%. Cars.com shares have fallen nearly -7.22% since the year began. Nevertheless, the stocks have fallen -6.03% over the past one year. While a 52-week high of $22.84 was reached on 02/12/24, a 52-week low of $14.82 was recorded on 04/16/24. SMA at 50 days reached $17.15, while 200 days put it at $18.02. A total of 0.53 million shares were traded, compared to the trading of 0.92 million shares in the previous session.

Levels Of Support And Resistance For CARS Stock

The 24-hour chart illustrates a support level at 17.21, which if violated will result in even more drops to 16.82. On the upside, there is a resistance level at 18.38. A further resistance level may holdings at 19.16. The Relative Strength Index (RSI) on the 14-day chart is 55.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.05%. Stochastics %K at 66.73% indicates the stock is a holding.

The most recent change occurred on February 02, 2022 when Northcoast began covering the stock and recommended ‘”a Neutral”‘ rating.

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