Qsemble Capital Management LP Takes $3.12 Million Position in CarMax, Inc. $KMX

Qsemble Capital Management LP purchased a new stake in CarMax, Inc. (NYSE:KMX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 80,774 shares of the company’s stock, valued at approximately $3,121,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in shares of CarMax in the 2nd quarter valued at $28,000. MUFG Securities EMEA plc bought a new position in shares of CarMax in the 2nd quarter valued at $30,000. Center for Financial Planning Inc. bought a new position in shares of CarMax in the 3rd quarter valued at $31,000. Advisory Services Network LLC bought a new position in shares of CarMax in the 3rd quarter valued at $32,000. Finally, Strengthening Families & Communities LLC increased its stake in shares of CarMax by 220.0% in the 3rd quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after purchasing an additional 605 shares during the last quarter.

CarMax Stock Down 2.9%

KMX stock opened at $36.99 on Friday. The stock’s 50 day simple moving average is $41.01 and its 200 day simple moving average is $41.20. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $71.99. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.49 and a current ratio of 2.20. The company has a market cap of $5.25 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the business earned $0.58 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts expect that CarMax, Inc. will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KMX shares. JPMorgan Chase & Co. lifted their price target on CarMax from $28.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, April 15th. Bank of America assumed coverage on CarMax in a research note on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 price target on the stock. Argus raised CarMax to a “hold” rating in a report on Thursday, April 16th. Stephens boosted their price objective on CarMax from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $41.00 price objective on shares of CarMax in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $41.21.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.