TrueCar Inc (TRUE) : Elmrox Investment Group Im has sold out all of its stake in TrueCar Inc during the most recent quarter, according to the disclosure filed by the company on May 11, 2016 with the SEC. The investment management company has sold out 570,920 shares of TrueCar Inc which is valued at $3.6 Million.
Other Hedge Funds, Including , Landscape Capital Management L.l.c. sold out all of its stake in TRUE during the most recent quarter. The investment firm sold 120,358 shares of TRUE which is valued $760,663.Blackrock Fund Advisors reduced its stake in TRUE by selling 35,137 shares or 2.91% in the most recent quarter. The Hedge Fund company now holds 1,171,731 shares of TRUE which is valued at $7.4 Million. Airain Ltd sold out all of its stake in TRUE during the most recent quarter. The investment firm sold 39,297 shares of TRUE which is valued $248,357.Cim Investment Mangement Inc boosted its stake in TRUE in the latest quarter, The investment management firm added 3,432 additional shares and now holds a total of 27,748 shares of TrueCar Inc which is valued at $166,211. TrueCar Inc makes up approx 0.07% of Cim Investment Mangement Inc’s portfolio.
TrueCar Inc opened for trading at $6.38 and hit $6.47 on the upside on Monday, eventually ending the session at $6.47, with a gain of 2.37% or 0.15 points. The heightened volatility saw the trading volume jump to 4,75,854 shares. Company has a market cap of $542 M.
On the company’s financial health, TrueCar Inc reported $-0.07 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $-0.07. The company had revenue of $61.86 million for the quarter, compared to analysts expectations of $61.12 million. The company’s revenue was up 5.7% compared to the same quarter last year.
Many Wall Street Analysts have commented on TrueCar Inc. Topeka Capital Markets Initiated TrueCar Inc on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $6.TrueCar Inc was Downgraded by JMP Securities to ” Mkt Perform” on Feb 19, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 6 from a previous price target of $10 .
TrueCar Inc. (TrueCar) is a data-driven online platform operating on a common technology infrastructure powered by data and analytics. The Company operates its Company-branded platform on its TrueCar.com Website. In addition it customizes and operates its platform on a co-branded basis for its affinity group marketing partners including financial institutions such as USAA and American Express; membership-based organizations such as Consumer Reports AARP and AAA and employee buying programs for enterprises such as IBM and Walmart. The Company enables users to obtain market-based pricing data on new and used cars and to connect with its network of TrueCar Certified Dealers. It also allows automobile manufacturers known in the industry as original equipment manufacturers (OEMs) to connect with TrueCar users in the purchase process.