Stock Monitor: CarGurus Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 27, 2018 / Active-Investors.com has just released a free research report on Cars.com Inc. (NYSE: CARS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CARS as the Company's latest news hit the wire. On March 23, 2018, the Company, which is a leading online automotive marketplace, announced that it would appoint Michael Kelly, Bryan Wiener, and an additional Independent Director, to its Board of Directors, post the mutual agreement of Cars.com and Starboard Value LP. Post the addition of these 2 Directors, the Company's Board would comprise of 11 Directors, 10 of whom would be independent. Starboard Value LP is a New York-based investment advisor which specializes in investments related to publicly-traded US Companies. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for CarGurus, Inc. (NASDAQ: CARG), which also belongs to the Services sector as the Company Cars.com. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=CARG
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cars.com most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=CARS
About the New Directors
Michael Kelly has previously served terms as Co-Founder and Chief Executive Officer (CEO) of Kelly Newman Ventures, an advisory and investment firm. Prior to the tenure, he served as the President and CEO of the Weather Channel Cos, a leading weather-focused media and technology Company. He also served as the President of AOL Media Networks, where he pioneered multiple acquisitions like Advertising.com and Third Screen Media. Currently, Kelly serves on the Boards of Directors of Quantcast Corp., American Town Network, and Dianomi.
Bryan Wiener, the other Director to be appointed to Cars.com's Board of Directors, had served as the Executive Chairman of 360i, a leading digitally-led advertising agency since February 2014. Prior to 360i, Weiner was the Co-CEO and Co-Founder of Innovation Interactive, the privately-held parent Company of 360i and digital media SaaS firm, IgnitionOne. Weiner currently serves on the Board of Directors of comScore, Inc.
Company Growth Prospects
Cars.com is a leading organization in online automotive classifieds, where it has evolved into one of the largest digital automotive platforms, connecting thousands of local dealers across the country with millions of consumers. On February 14, 2018, the Company announced that it entered into a definitive agreement to acquire privately-held Dealer Inspire and Launch Digital Marketing ("LDM"), where the Companies provided digital solutions to automotive dealers, for $165 million in cash at closing, with a potential additional consideration on the basis of future performance.
The Company stated that it would supplement Dealer Inspire's and LDM's sales of innovative dealer technologies by integrating and distributing relevant digital solutions through the Company's sales network for the benefit of its more than 20,000 dealer customers nationwide.
On March 06, 2018, Cars.com announced its financial results for Q4 FY17 and full year FY17, ended December 31, 2017. The Company reported net revenues of $626.3 million for FY17, down 1% y-o-y from FY16. The Company's net income was $224.4 million, or $2.31 per diluted share, during FY17. The Company stated that it continued to be focused on gaining a greater share of consumer audience, where its average monthly unique visitor count advanced 1% in FY17.
Stock Performance Snapshot
March 26, 2018 - At Monday's closing bell, Cars.com's stock advanced 1.25%, ending the trading session at $28.38.
Volume traded for the day: 2.04 million shares, which was above the 3-month average volume of 1.38 million shares.
Stock performance in the previous six-month period - up 7.34%
After yesterday's close, Cars.com's market cap was at $2.17 billion.
Price to Earnings (P/E) ratio was at 14.11.
The stock is part of the Services sector, categorized under the Auto Dealerships industry. This sector was up 2.7% at the end of the session.
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