Caesars Entertainment misses Q2 earnings expectations, shares edge lower
BOSTON—Zales Samuel, the Chief Operating Officer and President of CarGurus , Inc. (NASDAQ:CARG), recently sold 10,000 shares of the company’s Class A common stock. The shares were sold on April 16 at a price of $26.84 each, totaling $268,400. Following this transaction, Samuel holds 503,382 shares directly. According to InvestingPro data, while this individual sale occurred, management has been actively buying back shares, and the company maintains strong financial health with a current ratio of 4.2x and more cash than debt on its balance sheet.
This sale was conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. Such plans are often used to avoid potential accusations of insider trading. The stock has declined about 15% over the past six months, though InvestingPro analysis indicates the company maintains impressive gross profit margins of 84% and is expected to grow net income this year. Discover more insights about CARG and track insider movements with InvestingPro’s comprehensive research reports, available for 1,400+ US stocks.
In other recent news, CarGurus Inc. has been the subject of several analyst evaluations and executive changes. Citizens JMP maintained its Market Outperform rating for CarGurus, with a price target of $38.00, highlighting the company’s strong performance in its core marketplace business and the increasing adoption of its products. However, potential challenges due to macroeconomic volatility were noted. Similarly, JMP Securities also retained a Market Outperform rating for CarGurus but adjusted its price target from $43.00 to $38.00, citing potential difficulties in the automotive advertising sector. Meanwhile, JPMorgan downgraded CarGurus from Overweight to Neutral and set a price target of $34.00, reflecting concerns over operational challenges and a more challenging cyclical environment. In executive news, CarGurus announced that CFO Elisa Palazzo will step down in March 2025, with CEO Jason Trevisan taking on additional roles as principal financial officer and principal accounting officer until a new CFO is appointed. These developments come as CarGurus continues to expand its offerings and enhance its platform to maintain its competitive position.
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