Avior Wealth Management LLC Acquires 9,194 Shares of CarMax, Inc. $KMX

Key Points

• Avior Wealth Management LLC significantly increased its stake in CarMax, Inc. by acquiring an additional 9,194 shares, raising its total holding by 6,129.3% to 9,344 shares worth approximately $628,000.
• CarMax reported disappointing quarterly earnings, with $0.64 EPS that fell short of the consensus estimate of $1.03, leading to a 6.0% decline in revenue compared to the same quarter last year.
• Analyst ratings vary for CarMax, with some setting price targets as low as $50, while others target up to $80, reflecting uncertainty in the company's outlook.

Avior Wealth Management LLC raised its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 6,129.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,344 shares of the company's stock after buying an additional 9,194 shares during the quarter. Avior Wealth Management LLC's holdings in CarMax were worth $628,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KMX. Zions Bancorporation National Association UT purchased a new position in shares of CarMax in the 1st quarter valued at approximately $27,000. Accent Capital Management LLC purchased a new position in shares of CarMax in the 1st quarter valued at approximately $34,000. Strengthening Families & Communities LLC lifted its stake in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after purchasing an additional 256 shares during the period. Quarry LP lifted its stake in shares of CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company's stock valued at $54,000 after purchasing an additional 233 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of CarMax by 49.2% in the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after purchasing an additional 296 shares during the period.

Insider Buying and Selling at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

CarMax Stock Up 0.9%

KMX stock opened at $45.25 on Tuesday. CarMax, Inc. has a 1-year low of $42.75 and a 1-year high of $91.25. The business has a fifty day moving average price of $58.27 and a 200-day moving average price of $64.55. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06. The stock has a market capitalization of $6.79 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.76 and a beta of 1.35.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a return on equity of 8.51% and a net margin of 1.98%.The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KMX shares. Oppenheimer restated a "market perform" rating on shares of CarMax in a research note on Friday. Morgan Stanley began coverage on CarMax in a research note on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price objective for the company. Robert W. Baird lowered their price objective on CarMax from $90.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on CarMax from $65.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Royal Bank Of Canada lowered their price objective on CarMax from $81.00 to $59.00 and set an "outperform" rating for the company in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.15.

CarMax 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.

Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax, Inc. (NYSE:KMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.