365,447 Shares in CarMax, Inc. $KMX Purchased by Endure Capital Management LLC

Key Points

• Endure Capital Management disclosed a new stake in CarMax, buying 365,447 shares worth about $15.2 million in the first quarter. The position makes up roughly 10.5% of Endure’s holdings and about 0.26% of CarMax.
• Insiders bought shares recently, including Director Peter J. Bensen and CEO Keith Barr, who together purchased 11,900 shares on June 22. Insider buying totaled 13,900 shares over the last 90 days.
• CarMax reported better-than-expected quarterly results, posting EPS of $1.31 versus estimates of $0.96 and revenue of $8.01 billion, up 6.2% year over year. Analysts now have a consensus rating of Reduce with an average price target of $49.33.

Endure Capital Management LLC bought a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 365,447 shares of the company's stock, valued at approximately $15,195,000. CarMax comprises about 10.5% of Endure Capital Management LLC's holdings, making the stock its 2nd largest position. Endure Capital Management LLC owned approximately 0.26% of CarMax as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank boosted its holdings in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company's stock valued at $27,000 after acquiring an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax in the second quarter worth $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax during the second quarter worth $30,000. Advisory Services Network LLC purchased a new position in shares of CarMax during the third quarter worth $32,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in CarMax during the fourth quarter valued at $33,000.

Insider Buying and Selling

In other CarMax news, Director Peter J. Bensen acquired 2,500 shares of the company's stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Barr acquired 9,400 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the transaction, the chief executive officer directly owned 33,375 shares of the company's stock, valued at approximately $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KMX shares. Royal Bank Of Canada upped their price target on shares of CarMax from $41.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, June 18th. Robert W. Baird lifted their price objective on CarMax from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, June 18th. Bank of America boosted their price objective on CarMax from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Wednesday, June 17th. Morgan Stanley upped their target price on CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 23rd. Finally, UBS Group raised their target price on CarMax from $42.00 to $57.00 and gave the stock a "neutral" rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $49.33.

CarMax Stock Down 0.1%

KMX opened at $58.31 on Friday. The company has a fifty day moving average of $49.69 and a two-hundred day moving average of $45.18. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 1.88 and a beta of 1.17. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $62.56. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX - Get Free Report) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the company posted $1.38 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts expect that CarMax, Inc. will post 2.7 earnings per share for the current year.

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.

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