Park West Asset Management Has Trimmed By $8.81 Million Its Truecar (TRUE) Position; Applied Industrial Technologies (AIT) Has 1.18 Sentiment

March 8, 2018 - By Peter Erickson

Park West Asset Management Llc decreased Truecar Inc (TRUE) stake by 35.08% reported in 2017Q3 SEC filing. Park West Asset Management Llc sold 587,092 shares as Truecar Inc (TRUE)’s stock rose 21.77%. The Park West Asset Management Llc holds 1.09 million shares with $17.16 million value, down from 1.67M last quarter. Truecar Inc now has $1.11 billion valuation. The stock increased 3.36% or $0.36 during the last trading session, reaching $11.06. About 2.02 million shares traded or 2.03% up from the average. TrueCar, Inc. (NASDAQ:TRUE) has risen 161.73% since March 8, 2017 and is uptrending. It has outperformed by 145.03% the S&P500.

Applied Industrial Technologies, Inc. distributes industrial products in the United States, Puerto Rico, Canada, Mexico, Australia, New Zealand, and Singapore. The company has market cap of $2.83 billion. The firm offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It has a 19.53 P/E ratio. It operates in two divisions, Service Center-Based Distribution and Fluid Power Businesses.

The stock increased 0.21% or $0.15 during the last trading session, reaching $73.05. About 74,580 shares traded. Applied Industrial Technologies, Inc. (AIT) has risen 39.79% since March 8, 2017 and is uptrending. It has outperformed by 23.09% the S&P500.

Grace & White Inc Ny holds 3.31% of its portfolio in Applied Industrial Technologies, Inc. for 241,844 shares. Palisade Capital Management Llc Nj owns 476,599 shares or 1.12% of their US portfolio. Moreover, Anchor Bolt Capital Lp has 0.74% invested in the company for 276,880 shares. The Texas-based Fruth Investment Management has invested 0.62% in the stock. Btim Corp., a Massachusetts-based fund reported 493,642 shares.

Analysts await Applied Industrial Technologies, Inc. (NYSE:AIT) to report earnings on April, 26. They expect $0.93 earnings per share, up 24.00% or $0.18 from last year’s $0.75 per share. AIT’s profit will be $35.97M for 19.64 P/E if the $0.93 EPS becomes a reality. After $0.77 actual earnings per share reported by Applied Industrial Technologies, Inc. for the previous quarter, Wall Street now forecasts 20.78% EPS growth.

Since January 1, 0001, it had 0 insider purchases, and 4 selling transactions for $1.42 million activity.

Analysts await TrueCar, Inc. (NASDAQ:TRUE) to report earnings on May, 8. They expect $-0.07 EPS, up 12.50% or $0.01 from last year’s $-0.08 per share. After $-0.04 actual EPS reported by TrueCar, Inc. for the previous quarter, Wall Street now forecasts 75.00% negative EPS growth.

Among 14 analysts covering TrueCar (NASDAQ:TRUE), 8 have Buy rating, 1 Sell and 5 Hold. Therefore 57% are positive. TrueCar had 39 analyst reports since July 24, 2015 according to SRatingsIntel. On Friday, August 7 the stock rating was maintained by B Riley with “Sell”. The company was initiated on Tuesday, April 5 by Topeka Capital Markets. The company was downgraded on Friday, July 24 by JP Morgan. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Friday, July 24. The rating was upgraded by JMP Securities to “Mkt Outperform” on Monday, January 9. Craig Hallum maintained it with “Buy” rating and $2300 target in Wednesday, August 9 report. The stock of TrueCar, Inc. (NASDAQ:TRUE) earned “Buy” rating by RBC Capital Markets on Thursday, February 15. The company was maintained on Friday, August 4 by RBC Capital Markets. The stock has “Underweight” rating by Morgan Stanley on Thursday, July 20. The firm has “Mkt Perform” rating by JMP Securities given on Friday, February 19.

Investors sentiment decreased to 0.99 in Q3 2017. Its down 1.17, from 2.16 in 2017Q2. It turned negative, as 24 investors sold TRUE shares while 19 reduced holdings. 35 funds opened positions while 58 raised stakes. 82.38 million shares or 7.55% more from 76.60 million shares in 2017Q2 were reported. Boothbay Fund Ltd Liability Corp reported 84,989 shares. Northern Trust Corp stated it has 0% in TrueCar, Inc. (NASDAQ:TRUE). Moreover, Rhumbline Advisers has 0% invested in TrueCar, Inc. (NASDAQ:TRUE). Raymond James &, Florida-based fund reported 18,750 shares. J Goldman & LP reported 849,482 shares stake. Ny State Common Retirement Fund has invested 0% in TrueCar, Inc. (NASDAQ:TRUE). 5,427 are owned by Ameritas Prtn. Minnesota-based Walleye Trading has invested 0% in TrueCar, Inc. (NASDAQ:TRUE). Hbk Invs Ltd Partnership has invested 0.01% of its portfolio in TrueCar, Inc. (NASDAQ:TRUE). Prelude Capital Mgmt has invested 0.26% in TrueCar, Inc. (NASDAQ:TRUE). Bnp Paribas Arbitrage accumulated 7,489 shares or 0% of the stock. G2 Mgmt Limited Com stated it has 0.63% in TrueCar, Inc. (NASDAQ:TRUE). Cortina Asset Ltd holds 0.25% or 384,965 shares in its portfolio. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in TrueCar, Inc. (NASDAQ:TRUE). Citadel Advsr Limited Liability Corporation holds 824,325 shares or 0.01% of its portfolio.

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