Broad Run Investment Management LLC Takes Position in CarMax, Inc. $KMX

Broad Run Investment Management LLC purchased a new position in CarMax, Inc. (NYSE:KMX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 283,226 shares of the company's stock, valued at approximately $14,980,000. CarMax accounts for 2.3% of Broad Run Investment Management LLC's holdings, making the stock its 14th biggest position. Broad Run Investment Management LLC owned approximately 0.20% of CarMax at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in CarMax in the 2nd quarter worth about $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax during the second quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new stake in shares of CarMax during the second quarter valued at approximately $29,000. Basecamp Wealth Advisors LLC grew its stake in CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 327 shares in the last quarter. Finally, Huntington National Bank grew its stake in CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company's stock worth $27,000 after purchasing an additional 265 shares in the last quarter.

Analyst Ratings Changes

KMX has been the topic of a number of recent research reports. Mizuho increased their price target on CarMax from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Morgan Stanley upped their price objective on shares of CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 23rd. Benchmark reiterated a "hold" rating on shares of CarMax in a report on Thursday, June 18th. Zacks Research raised shares of CarMax from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Finally, Truist Financial upped their price target on shares of CarMax from $47.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, CarMax currently has a consensus rating of "Hold" and an average price target of $51.00.

CarMax Trading Up 1.2%

NYSE KMX opened at $62.85 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The firm has a market cap of $8.92 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 2.84 and a beta of 1.15. The company has a 50 day moving average price of $55.86 and a 200 day moving average price of $47.12. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $63.15.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period last year, the firm earned $1.38 earnings per share. CarMax's revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, CEO Keith Barr acquired 9,400 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter J. Bensen acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by insiders.

About CarMax

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source