Man Group plc Cuts Stock Holdings in CarMax, Inc. (NYSE:KMX)

Man Group plc reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 642,759 shares of the company's stock after selling 127,374 shares during the period. Man Group plc owned approximately 0.42% of CarMax worth $52,552,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KMX. Cromwell Holdings LLC lifted its holdings in shares of CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock worth $35,000 after acquiring an additional 217 shares during the last quarter. Allworth Financial LP lifted its stake in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after purchasing an additional 249 shares during the last quarter. Colonial Trust Co SC lifted its stake in CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in CarMax by 91.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company's stock worth $82,000 after purchasing an additional 480 shares during the last quarter. Finally, BankPlus Trust Department bought a new stake in CarMax in the fourth quarter worth $85,000.

Insider Buying and Selling

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the business's stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the acquisition, the director now owns 33,577 shares in the company, valued at $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

CarMax Trading Down 1.1%

KMX stock traded down $0.74 during trading on Friday, reaching $67.16. The company had a trading volume of 2,631,125 shares, compared to its average volume of 2,154,573. CarMax, Inc. has a 52 week low of $61.67 and a 52 week high of $91.25. The company has a market cap of $10.25 billion, a P/E ratio of 22.77, a PEG ratio of 1.67 and a beta of 1.45. The business has a 50 day moving average of $70.04 and a 200 day moving average of $77.81. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

Wall Street Analyst Weigh In

Several analysts have weighed in on KMX shares. Robert W. Baird lowered their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Needham & Company LLC lowered their price target on shares of CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. StockNews.com raised shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $87.73.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.