Cars.com’s recently made public that its CEO Vetter Thomas Alex unloaded Company’s shares for reported $0.34 million on Jul 12 ’24. In the deal valued at $19.23 per share,17,674 shares were sold. As a result of this transaction, Vetter Thomas Alex now holds 598,934 shares worth roughly $11.58 million.
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Then, Vetter Thomas Alex sold 17,666 shares, generating $354,910 in total proceeds. Upon selling the shares at $20.09, the CEO now owns 616,608 shares.
Before that, WIENER BRYAN sold 10,000 shares. Cars.com shares valued at $205,100 were divested by the Director at a price of $20.51 per share. As a result of the transaction, WIENER BRYAN now holds 62,913 shares, worth roughly $1.22 million.
JP Morgan downgraded its Cars.com [CARS] rating to a Neutral from a an Overweight in a research note published on August 09, 2024; the price target was decreased to $19 from $25. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in mid September with a ‘”a Neutral”‘ rating. B. Riley Securities began covering CARS with “Buy” recommendation on July 20, 2023. JP Morgan started covering the stock on June 27, 2023. It rated CARS as “an Overweight”.
Price Performance Review of CARS
On Friday, Cars.com [NYSE:CARS] saw its stock jump 4.66% to $19.33. Over the last five days, the stock has gained 3.26%. Cars.com shares have risen nearly 1.90% since the year began. Nevertheless, the stocks have risen 2.22% over the past one year. While a 52-week high of $21.24 was reached on 07/31/24, a 52-week low of $15.05 was recorded on 10/07/24. SMA at 50 days reached $16.92, while 200 days put it at $17.89.
Levels Of Support And Resistance For CARS Stock
The 24-hour chart illustrates a support level at 18.78, which if violated will result in even more drops to 18.22. On the upside, there is a resistance level at 19.62. A further resistance level may holdings at 19.91. The Relative Strength Index (RSI) on the 14-day chart is 70.48, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 4.03%. Stochastics %K at 80.18% indicates the stock is a selling.
How much short interest is there in Cars.com?
A steep rise in short interest was recorded in Cars.com stocks on 2024-10-31, dropping by -0.14 million shares to a total of 1.64 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 1.78 million shares. There was a decline of -8.45%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on June 21, 2022 when BTIG Research resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $16.
