The TrueCar Inc. (TRUE) Position Increased by Morgan Stanley

The TrueCar Inc. (TRUE) Position Increased by Morgan Stanley

Morgan Stanley increased its position in shares of TrueCar Inc. (NASDAQ:TRUE) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 7,029,769 shares of the company’s stock after buying an additional 419,322 shares during the period. Morgan Stanley owned about 8.31% of TrueCar worth $66,360,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in TrueCar by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,538 shares of the company’s stock worth $161,000 after buying an additional 881 shares during the last quarter. BlackRock Group LTD increased its stake in TrueCar by 4.4% in the third quarter. BlackRock Group LTD now owns 18,933 shares of the company’s stock valued at $178,000 after buying an additional 792 shares in the last quarter. BlackRock Advisors LLC increased its stake in TrueCar by 2.4% in the second quarter. BlackRock Advisors LLC now owns 25,525 shares of the company’s stock valued at $200,000 after buying an additional 587 shares in the last quarter. American International Group Inc. increased its stake in TrueCar by 9.2% in the second quarter. American International Group Inc. now owns 31,287 shares of the company’s stock valued at $246,000 after buying an additional 2,626 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in TrueCar by 8.5% in the second quarter. Nationwide Fund Advisors now owns 35,365 shares of the company’s stock valued at $278,000 after buying an additional 2,770 shares in the last quarter. Hedge funds and other institutional investors own 63.28% of the company’s stock.

Shares of TrueCar Inc. (NASDAQ:TRUE) opened at 12.87 on Thursday. The company has a 50-day moving average of $12.68 and a 200 day moving average of $10.54. TrueCar Inc. has a 12-month low of $4.42 and a 12-month high of $13.91. The firm’s market capitalization is $1.10 billion.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The firm had revenue of $75.01 million for the quarter, compared to the consensus estimate of $71.17 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts predict that TrueCar Inc. will post ($0.18) EPS for the current year.

Several equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $14.50 price objective on shares of TrueCar in a research note on Wednesday. JMP Securities upgraded shares of TrueCar from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Monday, January 9th. Zacks Investment Research downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Loop Capital reiterated a “buy” rating and set a $15.00 price objective (up from $12.00) on shares of TrueCar in a research note on Thursday, December 8th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of TrueCar in a research note on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.26.

In related news, EVP Brian Skutta sold 4,081 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $12.81, for a total value of $52,277.61. Following the transaction, the executive vice president now owns 98,438 shares in the company, valued at $1,260,990.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Neeraj Gunsagar sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $12.77, for a total value of $63,850.00. Following the completion of the transaction, the executive vice president now owns 352,156 shares in the company, valued at approximately $4,497,032.12. The disclosure for this sale can be found here. 17.30% of the stock is owned by corporate insiders.

About TrueCar

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.

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