ACV Auctions Inc. $ACVA Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its position in ACV Auctions Inc. (NYSE:ACVA - Free Report) by 3,753.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,370 shares of the company's stock after buying an additional 126,987 shares during the period. Fifth Third Bancorp owned about 0.07% of ACV Auctions worth $553,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. American Trust purchased a new position in ACV Auctions during the first quarter worth approximately $53,000. R Squared Ltd purchased a new stake in shares of ACV Auctions in the first quarter valued at approximately $73,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of ACV Auctions in the first quarter valued at approximately $851,000. Diversified Trust Co raised its stake in shares of ACV Auctions by 13.7% during the 1st quarter. Diversified Trust Co now owns 45,520 shares of the company's stock worth $193,000 after buying an additional 5,471 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of ACV Auctions by 42,271.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,135 shares of the company's stock worth $105,000 after buying an additional 13,104 shares during the period. Institutional investors and hedge funds own 88.55% of the company's stock.

ACV Auctions Stock Performance

Shares of NYSE:ACVA opened at $8.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. The business's 50 day moving average price is $6.76 and its 200-day moving average price is $6.24. The firm has a market capitalization of $1.41 billion, a PE ratio of -23.01 and a beta of 1.82. ACV Auctions Inc. has a 1 year low of $4.07 and a 1 year high of $14.75.

Wall Street Analysts Forecast Growth

ACVA has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of ACV Auctions from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Barrington Research cut shares of ACV Auctions from an "outperform" rating to a "market perform" rating and set a $7.00 price objective for the company. in a research report on Monday, June 1st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ACV Auctions in a report on Wednesday, June 24th. Finally, Stephens upgraded shares of ACV Auctions to a "hold" rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.

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