Senvest Management LLC Buys 291,729 Shares of ACV Auctions Inc. $ACVA

Senvest Management LLC lifted its stake in ACV Auctions Inc. (NYSE:ACVA) by 9.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,530,785 shares of the company’s stock after buying an additional 291,729 shares during the quarter. Senvest Management LLC’s holdings in ACV Auctions were worth $14,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after acquiring an additional 1,421 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in ACV Auctions by 2,573.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock worth $30,000 after purchasing an additional 3,629 shares in the last quarter. Larson Financial Group LLC lifted its stake in ACV Auctions by 38,076.9% in the 4th quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock worth $40,000 after purchasing an additional 4,950 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ACV Auctions by 12,979.5% during the 4th quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after purchasing an additional 5,711 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of ACV Auctions during the 1st quarter valued at about $52,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

ACVA stock opened at $7.78 on Friday. ACV Auctions Inc. has a 52 week low of $4.07 and a 52 week high of $14.91. The firm has a market capitalization of $1.36 billion, a P/E ratio of -22.21 and a beta of 1.82. The company has a fifty day simple moving average of $6.64 and a two-hundred day simple moving average of $6.27. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ACVA shares. Barclays boosted their target price on ACV Auctions from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Barrington Research cut ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price target for the company. in a report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research note on Wednesday, June 24th. Finally, Stephens raised ACV Auctions to a “hold” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.23.

ACV Auctions Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.