Aigen Investment Management LP Purchases Shares of 29,534 CarMax, Inc. (NYSE:KMX)

Key Points

• Aigen Investment Management LP has initiated a position in CarMax, Inc. with an investment of approximately $2.30 million, acquiring 29,534 shares during the first quarter.
• CarMax's recent quarterly earnings report showed an EPS of $1.38, surpassing the consensus estimate by $0.20, although revenue fell slightly short of expectations at $7.55 billion.
• Analysts have varied perspectives on CarMax's stock, with upgrades and changes in price targets; it currently has an average rating of "Moderate Buy" and a consensus target price of $83.08.

Aigen Investment Management LP purchased a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,534 shares of the company's stock, valued at approximately $2,301,000.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in shares of CarMax during the 1st quarter worth about $27,000. Accent Capital Management LLC acquired a new position in shares of CarMax during the 1st quarter worth about $34,000. Strengthening Families & Communities LLC raised its position in shares of CarMax by 93.1% during the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock worth $39,000 after purchasing an additional 256 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of CarMax during the 4th quarter worth about $53,000. Finally, Colonial Trust Co SC raised its position in shares of CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the last quarter.

CarMax Trading Down 1.0%

Shares of NYSE KMX traded down $0.60 during midday trading on Thursday, reaching $58.03. 1,344,858 shares of the stock were exchanged, compared to its average volume of 2,946,626. The company has a 50 day simple moving average of $63.55 and a 200 day simple moving average of $70.29. The stock has a market capitalization of $8.71 billion, a P/E ratio of 15.99, a PEG ratio of 0.92 and a beta of 1.36. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. CarMax, Inc. has a twelve month low of $54.53 and a twelve month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.20. The firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. As a group, equities analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

KMX has been the subject of a number of recent research reports. Benchmark initiated coverage on shares of CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 price objective for the company. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Royal Bank Of Canada increased their price objective on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Mizuho cut their price objective on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CarMax presently has an average rating of "Moderate Buy" and a consensus price target of $82.75.

Insider Buying and Selling at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

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.