GAMMA Investing LLC Raises Stake in CarMax, Inc. (NYSE:KMX)

GAMMA Investing LLC raised its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 8,675.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 515,830 shares of the company's stock after purchasing an additional 509,952 shares during the quarter. GAMMA Investing LLC owned 0.34% of CarMax worth $40,193,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KMX. Cromwell Holdings LLC lifted its holdings in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock valued at $35,000 after purchasing an additional 217 shares in the last quarter. Allworth Financial LP lifted its holdings in CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock valued at $51,000 after purchasing an additional 249 shares in the last quarter. Ameriflex Group Inc. purchased a new position in CarMax during the fourth quarter valued at approximately $53,000. Colonial Trust Co SC lifted its holdings in CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after purchasing an additional 693 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in CarMax by 123.8% during the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after purchasing an additional 551 shares in the last quarter.

CarMax Price Performance

KMX traded down $0.57 during trading hours on Thursday, hitting $65.35. The company's stock had a trading volume of 2,051,854 shares, compared to its average volume of 2,256,344. The business's 50-day moving average price is $67.88 and its 200-day moving average price is $76.78. CarMax, Inc. has a 12 month low of $61.34 and a 12 month high of $91.25. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 1.67 and a beta of 1.45. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

Insider Buying and Selling at CarMax

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of the business's stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director now directly owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KMX. Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of CarMax in a research report on Monday, May 19th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Evercore ISI reduced their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their price objective on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Finally, Needham & Company LLC reduced their price objective on shares of CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $85.82.

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.