Quantum Capital Management reduced its holdings in shares of TrueCar Inc (NASDAQ:TRUE) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 160,315 shares of the technology company’s stock after selling 34,662 shares during the period. Quantum Capital Management owned approximately 0.15% of TrueCar worth $545,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of TrueCar by 1,087.8% during the third quarter. Tower Research Capital LLC TRC now owns 8,445 shares of the technology company’s stock worth $29,000 after buying an additional 7,734 shares in the last quarter. Advisory Services Network LLC purchased a new stake in TrueCar in the second quarter valued at approximately $60,000. Stone Ridge Asset Management LLC purchased a new stake in TrueCar in the second quarter valued at approximately $67,000. Virtu Financial LLC grew its holdings in TrueCar by 101.5% in the third quarter. Virtu Financial LLC now owns 25,545 shares of the technology company’s stock valued at $87,000 after purchasing an additional 12,869 shares during the period. Finally, Balyasny Asset Management LLC purchased a new stake in TrueCar in the second quarter valued at approximately $196,000. Institutional investors own 94.16% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. TheStreet downgraded shares of TrueCar from a “c-” rating to a “d” rating in a report on Thursday, August 8th. Cowen set a $5.00 price objective on shares of TrueCar and gave the stock a “hold” rating in a research note on Friday, August 9th. Citigroup cut their price target on shares of TrueCar from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Needham & Company LLC initiated coverage on shares of TrueCar in a report on Thursday, September 12th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised shares of TrueCar from a “strong sell” rating to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. TrueCar presently has an average rating of “Hold” and a consensus target price of $8.01.
TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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