Acuitas Investments LLC Buys 279,106 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Acuitas Investments LLC grew its stake in TrueCar, Inc. (NASDAQ:TRUE) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,264,272 shares of the technology company’s stock after purchasing an additional 279,106 shares during the quarter. TrueCar makes up approximately 2.2% of Acuitas Investments LLC’s holdings, making the stock its 7th biggest holding. Acuitas Investments LLC’s holdings in TrueCar were worth $4,374,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in TrueCar during the third quarter worth about $27,000. Gladius Capital Management LP raised its stake in TrueCar by 31.3% during the third quarter. Gladius Capital Management LP now owns 15,367 shares of the technology company’s stock worth $32,000 after acquiring an additional 3,661 shares during the period. SG Americas Securities LLC acquired a new stake in TrueCar during the third quarter worth about $83,000. New York State Common Retirement Fund raised its stake in TrueCar by 269.8% during the fourth quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company’s stock worth $96,000 after acquiring an additional 20,254 shares during the period. Finally, Mackenzie Financial Corp raised its stake in TrueCar by 84.1% during the fourth quarter. Mackenzie Financial Corp now owns 55,911 shares of the technology company’s stock worth $193,000 after acquiring an additional 25,537 shares during the period. Institutional investors and hedge funds own 79.44% of the company’s stock.

TrueCar Stock Down 3.0 %

NASDAQ TRUE traded down $0.09 on Wednesday, hitting $2.91. The stock had a trading volume of 206,378 shares, compared to its average volume of 210,474. TrueCar, Inc. has a one year low of $1.76 and a one year high of $4.05. The stock has a market cap of $266.48 million, a price-to-earnings ratio of -5.20 and a beta of 1.65. The company’s 50-day moving average is $3.34 and its two-hundred day moving average is $3.05.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Tuesday, February 20th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $41.29 million during the quarter, compared to analysts’ expectations of $41.50 million. On average, sell-side analysts anticipate that TrueCar, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “buy” rating and set a $4.50 price objective on shares of TrueCar in a research note on Wednesday, February 21st.

Insiders Place Their Bets

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $3.45, for a total value of $51,750.00. Following the completion of the transaction, the executive vice president now owns 325,044 shares in the company, valued at approximately $1,121,401.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

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.