Autonation, Inc. discloses stake in TRUE / TrueCar Inc

Fintel reports that Autonation, Inc. (US:AN) has filed a 13G form with the SEC disclosing ownership of 5,370,000 shares of TrueCar Inc (TRUE). This represents 6.1% of the company.

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to its nationwide network of Certified Dealers. The company is building the industry’s most personalized and efficient car buying experience as TrueCar seeks to bring more of the purchasing process online. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts.

What are other large shareholders doing?

Caledonia (Private) Investments Pty Ltd holds 18,626,859 shares representing 21.14% ownership of the company. No change in the last quarter.

Par Capital Management Inc holds 8,457,142 shares representing 9.60% ownership of the company. In it’s prior filing, the firm reported owning 8,157,142 shares, representing an increase of 3.55%. The firm decreased its portfolio allocation in TRUE by 4.61% over the last quarter.

United Services Automobile Association holds 8,370,203 shares representing 9.50% ownership of the company. In it’s prior filing, the firm reported owning 8,530,351 shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in TRUE by 9.70% over the last quarter.

Cannell Capital Llc holds 5,642,830 shares representing 6.40% ownership of the company. In it’s prior filing, the firm reported owning 4,067,471 shares, representing an increase of 27.92%. The firm increased its portfolio allocation in TRUE by 20.81% over the last quarter.

Renaissance Technologies Llc holds 2,527,401 shares representing 2.87% ownership of the company. In it’s prior filing, the firm reported owning 2,267,101 shares, representing an increase of 10.30%. The firm decreased its portfolio allocation in TRUE by 26.26% over the last quarter.

What is the overall institutional sentiment?

There are 275 funds or institutions reporting positions in TrueCar Inc. This is a decrease of 2 owner(s) or 0.72%.

Average portfolio weight of all funds dedicated to TrueCar Inc is 0.0440%, a decrease of 15.2624%. Total shares owned by institutions decreased in the last three months by 1.78% to 89,136,267 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel