ACV Auctions Inc. $ACVA Stock Holdings Boosted by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management LLC CT raised its stake in ACV Auctions by 58.9% in Q4 to 2,989,152 shares, making ACVA its largest position and representing about 1.74% of the company (≈$23.97M).
• CEO George Chamoun purchased 24,272 shares at an average price of $5.05 on March 9, increasing his direct ownership to 2,952,977 shares; insiders now own about 2.90% of the stock.
• ACV missed Q4 EPS estimates (reported ($0.11) vs. ($0.01) expected) while revenue grew 15.2% to $183.65M, and analysts hold a consensus rating of Moderate Buy with an average target of $10.45.

Iridian Asset Management LLC CT raised its stake in ACV Auctions Inc. (NYSE:ACVA - Free Report) by 58.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,989,152 shares of the company's stock after purchasing an additional 1,108,301 shares during the period. ACV Auctions accounts for about 8.8% of Iridian Asset Management LLC CT's holdings, making the stock its biggest position. Iridian Asset Management LLC CT owned 1.74% of ACV Auctions worth $23,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ACVA. Aster Capital Management DIFC Ltd increased its stake in ACV Auctions by 298.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company's stock valued at $33,000 after purchasing an additional 2,489 shares during the last quarter. Covestor Ltd increased its stake in ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company's stock valued at $57,000 after purchasing an additional 1,649 shares during the last quarter. Norden Group LLC purchased a new position in ACV Auctions in the fourth quarter valued at approximately $90,000. State of Alaska Department of Revenue purchased a new position in ACV Auctions in the third quarter valued at approximately $100,000. Finally, PharVision Advisers LLC purchased a new position in ACV Auctions in the third quarter valued at approximately $138,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

ACV Auctions Stock Performance

Shares of ACVA opened at $4.34 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.44. The firm has a market cap of $755.12 million, a PE ratio of -11.42 and a beta of 1.69. The company's 50 day simple moving average is $5.42 and its 200-day simple moving average is $7.26. ACV Auctions Inc. has a 12-month low of $4.07 and a 12-month high of $17.54.

ACV Auctions (NYSE:ACVA - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The company had revenue of $183.65 million for the quarter, compared to analyst estimates of $181.96 million. During the same period in the prior year, the business earned ($0.16) earnings per share. ACV Auctions's revenue for the quarter was up 15.2% compared to the same quarter last year.

Insider Buying and Selling at ACV Auctions

In related news, CEO George Chamoun purchased 24,272 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average cost of $5.05 per share, with a total value of $122,573.60. Following the completion of the acquisition, the chief executive officer directly owned 2,952,977 shares in the company, valued at $14,912,533.85. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ACVA shares. B. Riley Financial dropped their price target on shares of ACV Auctions from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings restated a "sell (e+)" rating on shares of ACV Auctions in a research report on Friday, March 27th. Barclays lowered their target price on shares of ACV Auctions from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Monday, March 2nd. Needham & Company LLC restated a "buy" rating and set a $9.00 target price on shares of ACV Auctions in a research report on Tuesday, February 24th. Finally, Barrington Research upgraded shares of ACV Auctions from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.45.

ACV Auctions Company 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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