TrueCar, Inc. (NASDAQ:TRUE) Shares Acquired by Acuitas Investments LLC

Acuitas Investments LLC lifted its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,264,272 shares of the technology company’s stock after buying an additional 279,106 shares during the period. TrueCar makes up approximately 2.2% of Acuitas Investments LLC’s holdings, making the stock its 7th largest position. Acuitas Investments LLC owned approximately 1.39% of TrueCar worth $4,374,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TRUE. Cannell Capital LLC boosted its holdings in TrueCar by 2.6% in the 3rd quarter. Cannell Capital LLC now owns 8,441,072 shares of the technology company’s stock valued at $17,473,000 after purchasing an additional 216,636 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in TrueCar by 2.6% in the 3rd quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company’s stock valued at $4,374,000 after purchasing an additional 53,889 shares in the last quarter. Boston Partners boosted its holdings in TrueCar by 20.9% in the 3rd quarter. Boston Partners now owns 184,751 shares of the technology company’s stock valued at $382,000 after purchasing an additional 31,898 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in TrueCar by 5.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 127,658 shares of the technology company’s stock valued at $264,000 after purchasing an additional 6,680 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in TrueCar by 84.1% in the 4th quarter. Mackenzie Financial Corp now owns 55,911 shares of the technology company’s stock valued at $193,000 after purchasing an additional 25,537 shares in the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

TrueCar Price Performance

Shares of TRUE stock traded down $0.09 during midday trading on Wednesday, reaching $2.91. 206,378 shares of the company traded hands, compared to its average volume of 210,474. The firm’s 50 day simple moving average is $3.34 and its two-hundred day simple moving average is $3.05. TrueCar, Inc. has a 1-year low of $1.76 and a 1-year high of $4.05. The firm has a market cap of $266.48 million, a PE ratio of -5.20 and a beta of 1.65.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. TrueCar had a negative net margin of 31.36% and a negative return on equity of 24.27%. The company had revenue of $41.29 million during the quarter, compared to the consensus estimate of $41.50 million. As a group, research analysts anticipate that TrueCar, Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeff Swart sold 15,000 shares of TrueCar stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $3.45, for a total transaction of $51,750.00. Following the completion of the transaction, the executive vice president now directly owns 325,044 shares in the company, valued at approximately $1,121,401.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.50 price objective on shares of TrueCar in a report on Wednesday, February 21st.

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.