Contravisory Investment Management Inc. Acquires New Position in CarMax, Inc. (NYSE:KMX)

Contravisory Investment Management Inc. acquired a new position in CarMax, Inc. (NYSE:KMX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,289 shares of the company's stock, valued at approximately $490,000.

Other large investors have also modified their holdings of the company. Cromwell Holdings LLC raised its position in shares of CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock worth $35,000 after acquiring an additional 217 shares during the period. Ameriflex Group Inc. acquired a new position in shares of CarMax in the fourth quarter worth about $53,000. Allworth Financial LP raised its position in shares of CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after acquiring an additional 249 shares during the period. Colonial Trust Co SC raised its position in shares of CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after acquiring an additional 693 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of CarMax by 38.4% in the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after acquiring an additional 260 shares during the period.

Insider Activity at CarMax

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now owns 33,577 shares in the company, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KMX shares. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research report on Monday, April 21st. Evercore ISI reduced their price target on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of CarMax in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $85.82.

CarMax Price Performance

NYSE KMX traded up $0.28 during trading hours on Friday, hitting $65.68. 1,821,635 shares of the company's stock traded hands, compared to its average volume of 2,262,407. CarMax, Inc. has a 52-week low of $61.34 and a 52-week high of $91.25. The company has a market capitalization of $10.03 billion, a PE ratio of 22.26, a PEG ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The firm's 50-day moving average is $67.36 and its 200-day moving average is $76.60.

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.