Quantbot Technologies LP Invests $3.82 Million in CarMax, Inc. $KMX

Key Points

• Quantbot Technologies LP has acquired 48,984 shares of CarMax, valued at approximately $3.8 million, as indicated in their latest SEC filing.
• Several institutional investors made significant changes to their holdings in CarMax, including Kovitz Investment Group, which raised its position by 348%.
• CarMax's stock currently holds an average rating of "Moderate Buy" with a price target of $81.50, reflecting analyst optimism despite mixed ratings on the stock.

Quantbot Technologies LP acquired a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 48,984 shares of the company's stock, valued at approximately $3,817,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in CarMax by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 815,461 shares of the company's stock worth $63,541,000 after acquiring an additional 207,665 shares during the period. Korea Investment CORP lifted its position in CarMax by 17.3% during the 1st quarter. Korea Investment CORP now owns 77,268 shares of the company's stock worth $6,021,000 after acquiring an additional 11,400 shares during the period. Aviso Financial Inc. lifted its position in CarMax by 6.6% during the 1st quarter. Aviso Financial Inc. now owns 4,956 shares of the company's stock worth $386,000 after acquiring an additional 305 shares during the period. Steward Partners Investment Advisory LLC increased its position in CarMax by 11.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 68,100 shares of the company's stock worth $5,306,000 after purchasing an additional 6,874 shares during the period. Finally, Raymond James Financial Inc. increased its position in CarMax by 2.2% during the 1st quarter. Raymond James Financial Inc. now owns 388,257 shares of the company's stock worth $30,253,000 after purchasing an additional 8,358 shares during the period.

Insider Transactions at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

CarMax Price Performance

KMX stock traded up $2.1260 on Friday, reaching $60.0160. The company had a trading volume of 1,811,819 shares, compared to its average volume of 2,813,410. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The company's fifty day moving average is $62.43 and its 200 day moving average is $69.00. The company has a market cap of $9.01 billion, a P/E ratio of 16.58, a PEG ratio of 0.94 and a beta of 1.36.

CarMax (NYSE:KMX - Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company earned $0.97 EPS. CarMax's revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on KMX. Wedbush reiterated an "outperform" rating and set a $84.00 target price on shares of CarMax in a research report on Tuesday. Truist Financial boosted their target price on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Stephens reiterated an "overweight" rating and set a $81.00 target price on shares of CarMax in a research report on Tuesday. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and dropped their target price for the stock from $65.00 to $58.00 in a research report on Wednesday, August 6th. Finally, Evercore ISI dropped their target price on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CarMax presently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

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.