Prelude Capital Management LLC increased its position in shares of TrueCar, Inc. (NASDAQ:TRUE – Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,182,915 shares of the technology company’s stock after purchasing an additional 94,563 shares during the quarter. Prelude Capital Management LLC owned 1.33% of TrueCar worth $2,721,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in TrueCar by 5.1% during the fourth quarter. Alliancebernstein L.P. now owns 99,300 shares of the technology company’s stock worth $249,000 after buying an additional 4,800 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of TrueCar by 4.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 135,557 shares of the technology company’s stock valued at $351,000 after purchasing an additional 5,238 shares during the period. BCK Capital Management LP grew its position in shares of TrueCar by 2.6% in the first quarter. BCK Capital Management LP now owns 258,025 shares of the technology company’s stock valued at $593,000 after purchasing an additional 6,525 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of TrueCar by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 243,610 shares of the technology company’s stock valued at $560,000 after purchasing an additional 6,733 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in TrueCar by 52.3% in the second quarter. BNP Paribas Arbitrage SA now owns 28,843 shares of the technology company’s stock valued at $75,000 after acquiring an additional 9,908 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
TrueCar Price Performance
Shares of TRUE opened at $2.35 on Thursday. The stock’s 50-day moving average is $2.30 and its two-hundred day moving average is $2.32. The stock has a market cap of $211.64 million, a PE ratio of -1.56 and a beta of 1.37. TrueCar, Inc. has a 12 month low of $1.30 and a 12 month high of $3.49.
TrueCar (NASDAQ:TRUE – Get Free Report) last issued its quarterly earnings data on Monday, July 31st. The technology company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The company had revenue of $39.29 million for the quarter, compared to analysts’ expectations of $38.60 million. TrueCar had a negative return on equity of 35.59% and a negative net margin of 88.98%. On average, research analysts anticipate that TrueCar, Inc. will post -0.57 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. StockNews.com assumed coverage on TrueCar in a report on Thursday, August 17th. They issued a “hold” rating on the stock. B. Riley assumed coverage on TrueCar in a report on Wednesday, July 19th. They issued a “neutral” rating and a $3.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, TrueCar presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.75.
TrueCar Profile
TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.