Crestline Management LP Takes $376,000 Position in CarMax, Inc. (NYSE:KMX)

Crestline Management LP acquired a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,599 shares of the company's stock, valued at approximately $376,000.

Several other large investors also recently modified their holdings of the stock. Cetera Investment Advisers boosted its position in CarMax by 2.3% in the 4th quarter. Cetera Investment Advisers now owns 147,579 shares of the company's stock valued at $12,066,000 after buying an additional 3,249 shares during the last quarter. Bridgefront Capital LLC bought a new position in CarMax in the 4th quarter valued at $1,171,000. Captrust Financial Advisors lifted its stake in shares of CarMax by 4.8% in the 4th quarter. Captrust Financial Advisors now owns 66,318 shares of the company's stock valued at $5,422,000 after purchasing an additional 3,067 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of CarMax in the 4th quarter valued at $407,000. Finally, Azora Capital LP acquired a new position in shares of CarMax in the 4th quarter valued at $13,339,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KMX. Royal Bank of Canada reissued an "underperform" rating on shares of CarMax in a research note on Monday, April 21st. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Cfra Research raised CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. StockNews.com raised CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CarMax currently has an average rating of "Hold" and an average target price of $87.73.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod bought 1,300 shares of CarMax stock in a transaction dated Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now directly owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.66% of the stock is currently owned by company insiders.

CarMax Trading Down 0.8%

KMX traded down $0.54 during trading on Friday, reaching $67.37. 1,041,655 shares of the stock traded hands, compared to its average volume of 2,144,449. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The stock has a market capitalization of $10.29 billion, a PE ratio of 22.86, a P/E/G ratio of 1.67 and a beta of 1.45. The stock's 50-day moving average is $70.15 and its 200 day moving average is $77.83. CarMax, Inc. has a 12 month low of $61.67 and a 12 month high of $91.25.

CarMax Company Profile

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.