United Services Automobile Association Lowers stake in TrueCar Inc (TRUE)

TrueCar Inc (TRUE) : United Services Automobile Association reduced its stake in TrueCar Inc by 3.18% during the most recent quarter end. The investment management company now holds a total of 12,164,667 shares of TrueCar Inc which is valued at $143,056,484 after selling 400,000 shares in TrueCar Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.TrueCar Inc makes up approximately 0.49% of United Services Automobile Association’s portfolio.

Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership added TRUE to its portfolio by purchasing 247,895 company shares during the most recent quarter which is valued at $2,915,245. TrueCar Inc makes up approx 0.01% of Arrowstreet Capital Limited Partnership’s portfolio. Citadel Advisors sold out all of its stake in TRUE during the most recent quarter. The investment firm sold 44,445 shares of TRUE which is valued $501,340.Teachers Advisors reduced its stake in TRUE by selling 2,529 shares or 2.8% in the most recent quarter. The Hedge Fund company now holds 87,792 shares of TRUE which is valued at $963,078. Wedbush Securities Inc sold out all of its stake in TRUE during the most recent quarter. The investment firm sold 15,000 shares of TRUE which is valued $158,250.

TrueCar Inc opened for trading at $12.65 and hit $12.69 on the upside on Monday, eventually ending the session at $12.68, with a gain of 0.40% or 0.05 points. The heightened volatility saw the trading volume jump to 6,88,479 shares. Company has a market cap of $1,084 M.

On the company’s financial health, TrueCar Inc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $75.10 million for the quarter, compared to analysts expectations of $71.15 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on TrueCar Inc. Company shares were Upgraded by Craig Hallum on Nov 4, 2016 to ” Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $11 .TrueCar Inc was Upgraded by Loop Capital to ” Buy” on Nov 4, 2016. Company shares were Downgraded by Morgan Stanley on Sep 12, 2016 to ” Underweight”, Firm has raised the Price Target to $ 6.40 from a previous price target of $5 .

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.

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