Chicago Capital LLC purchased a new stake in shares of Carvana Co. (NYSE:CVNA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 616,406 shares of the company’s stock, valued at approximately $14,134,000. Carvana makes up 1.9% of Chicago Capital LLC’s portfolio, making the stock its 22nd biggest position. Chicago Capital LLC owned 0.44% of Carvana at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new position in Carvana during the fourth quarter valued at approximately $133,000. Rehmann Capital Advisory Group purchased a new position in Carvana during the fourth quarter valued at approximately $270,000. Raymond James Financial Services Advisors Inc. purchased a new position in Carvana during the fourth quarter valued at approximately $391,000. Gator Capital Management LLC purchased a new position in Carvana during the fourth quarter valued at approximately $493,000. Finally, Schwab Charles Investment Management Inc. raised its position in Carvana by 17.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 29,247 shares of the company’s stock valued at $560,000 after acquiring an additional 4,447 shares in the last quarter. Institutional investors own 16.59% of the company’s stock.
Several analysts have commented on the company. Craig Hallum lowered Carvana from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Wednesday, March 7th. BMO Capital Markets lowered Carvana from an “outperform” rating to a “market perform” rating and set a $19.00 price objective on the stock. in a report on Wednesday, March 7th. Citigroup assumed coverage on Carvana in a report on Friday, March 9th. They issued a “buy” rating and a $23.00 price objective on the stock. Barrington Research reissued a “hold” rating on shares of Carvana in a report on Friday, March 2nd. Finally, Zacks Investment Research lowered Carvana from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $24.82.
Shares of NYSE:CVNA opened at $26.72 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 1.29 and a debt-to-equity ratio of 0.52. Carvana Co. has a 1 year low of $8.85 and a 1 year high of $31.35.
Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.01). The firm had revenue of $360.00 million during the quarter, compared to analyst estimates of $355.85 million. Carvana had a negative return on equity of 30.96% and a negative net margin of 6.09%. The business’s revenue was up 126.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.28) earnings per share. equities analysts anticipate that Carvana Co. will post -1.35 earnings per share for the current fiscal year.
In other news, COO Benjamin E. Huston sold 110,000 shares of Carvana stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $27.50, for a total value of $3,025,000.00. Following the sale, the chief operating officer now directly owns 110,000 shares of the company’s stock, valued at $3,025,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 5,000 shares of Carvana stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $27.50, for a total value of $137,500.00. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at $137,500. The disclosure for this sale can be found here. Insiders sold 2,320,000 shares of company stock worth $61,134,000 over the last ninety days. Corporate insiders own 21.41% of the company’s stock.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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