TrueCar Inc (NASDAQ:TRUE) – Equities research analysts at B. Riley raised their Q2 2017 EPS estimates for TrueCar in a report issued on Wednesday. B. Riley analyst S. Sinha now expects that the technology company will earn ($0.07) per share for the quarter, up from their prior forecast of ($0.09). B. Riley has a “Buy” rating and a $21.50 price target on the stock. B. Riley also issued estimates for TrueCar’s Q4 2017 earnings at ($0.08) EPS.
TrueCar (NASDAQ:TRUE) opened at 17.58 on Monday. TrueCar has a 1-year low of $6.13 and a 1-year high of $18.76. The firm has a 50-day moving average price of $15.92 and a 200 day moving average price of $13.64. The firm’s market cap is $1.53 billion. TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, May 9th. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The firm had revenue of $75.80 million for the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in TRUE. Profund Advisors LLC increased its position in shares of TrueCar by 3.7% in the first quarter. Profund Advisors LLC now owns 46,907 shares of the technology company’s stock worth $726,000 after buying an additional 1,667 shares in the last quarter. Teachers Advisors LLC increased its position in TrueCar by 2.1% in the first quarter. Teachers Advisors LLC now owns 94,754 shares of the technology company’s stock worth $1,466,000 after buying an additional 1,932 shares during the period. American International Group Inc. increased its position in TrueCar by 7.1% in the first quarter. American International Group Inc. now owns 33,469 shares of the technology company’s stock worth $518,000 after buying an additional 2,215 shares during the period. Swiss National Bank increased its position in TrueCar by 3.3% in the first quarter. Swiss National Bank now owns 77,500 shares of the technology company’s stock worth $1,199,000 after buying an additional 2,500 shares during the period. Finally, Blue Clay Capital Management LLC increased its position in TrueCar by 4.0% in the third quarter. Blue Clay Capital Management LLC now owns 68,290 shares of the technology company’s stock worth $645,000 after buying an additional 2,600 shares during the period. 63.62% of the stock is currently owned by institutional investors. In other news, major shareholder Services Automobile Ass United sold 3,132,343 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $16.50, for a total value of $51,683,659.50. Following the transaction, the insider now directly owns 8,533,348 shares of the company’s stock, valued at approximately $140,800,242. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Dietz sold 1,320,692 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $16.50, for a total value of $21,791,418.00. The disclosure for this sale can be found here. Insiders sold a total of 6,203,606 shares of company stock worth $100,967,971 over the last three months. 17.30% of the stock is owned by company insiders.
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.
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