Prospect Capital Advisors buys $7,238,144 stake in TrueCar Inc (TRUE)

TrueCar Inc (TRUE) : Prospect Capital Advisors scooped up 440,900 additional shares in TrueCar Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 675,200 shares of TrueCar Inc which is valued at $7,238,144.TrueCar Inc makes up approximately 5.93% of Prospect Capital Advisors’s portfolio.

Other Hedge Funds, Including , Par Capital Management Inc boosted its stake in TRUE in the latest quarter, The investment management firm added 831,527 additional shares and now holds a total of 5,031,568 shares of TrueCar Inc which is valued at $53,938,409. TrueCar Inc makes up approx 0.87% of Par Capital Management Inc’s portfolio. Spark Investment Management sold out all of its stake in TRUE during the most recent quarter. The investment firm sold 155,520 shares of TRUE which is valued $1,667,174.Geode Capital Management boosted its stake in TRUE in the latest quarter, The investment management firm added 8,886 additional shares and now holds a total of 406,412 shares of TrueCar Inc which is valued at $4,356,737. Senvest Management added TRUE to its portfolio by purchasing 1,503,581 company shares during the most recent quarter which is valued at $16,118,388. TrueCar Inc makes up approx 1.23% of Senvest Management’s portfolio.Rhumbline Advisers boosted its stake in TRUE in the latest quarter, The investment management firm added 3,555 additional shares and now holds a total of 50,681 shares of TrueCar Inc which is valued at $543,300.

TrueCar Inc opened for trading at $9.65 and hit $9.92 on the upside on Thursday, eventually ending the session at $9.83, with a gain of 1.87% or 0.18 points. The heightened volatility saw the trading volume jump to 9,39,917 shares. Company has a market cap of $832 M.

On the company’s financial health, TrueCar Inc reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.10. The company had revenue of $66.42 million for the quarter, compared to analysts expectations of $65.41 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Many Wall Street Analysts have commented on TrueCar Inc. Loop Capital Initiated TrueCar Inc on Aug 11, 2016 to “Hold”, Price Target of the shares are set at $11.

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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