Ieq Capital LLC Invests $16.43 Million in CarMax, Inc. $KMX

Ieq Capital LLC acquired a new stake in CarMax, Inc. (NYSE:KMX) during the second quarter, HoldingsChannel reports. The firm acquired 310,642 shares of the company’s stock, valued at approximately $16,430,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after buying an additional 161 shares during the last quarter. Empowered Funds LLC lifted its position in shares of CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after buying an additional 585 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after buying an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of CarMax in the 1st quarter valued at $727,000.

CarMax Stock Performance

Shares of KMX stock opened at $62.14 on Friday. The stock’s 50-day moving average price is $55.65 and its 200 day moving average price is $46.98. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The stock has a market capitalization of $8.82 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.84 and a beta of 1.15. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $63.00.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that CarMax, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

KMX has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Mizuho boosted their price target on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Benchmark restated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised CarMax from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $38.00 to $60.00 in a report on Wednesday, July 29th. Finally, Bank of America lifted their target price on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.00.

Insider Transactions at CarMax

In other news, Director Peter J. Bensen acquired 2,500 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith Barr acquired 9,400 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the acquisition, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. This represents a 39.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 13,900 shares of company stock worth $735,574 over the last ninety days. 1.01% of the stock is currently owned by company insiders.

About CarMax

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.