Convergence Investment Partners LLC Takes $1.69 Million Position in CarMax, Inc. $KMX

Convergence Investment Partners LLC purchased a new stake in CarMax, Inc. (NYSE:KMX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 40,589 shares of the company's stock, valued at approximately $1,688,000.

A number of other institutional investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock worth $419,000 after acquiring an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after purchasing an additional 173 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of CarMax by 20.0% in the 4th quarter. Blue Trust Inc. now owns 1,424 shares of the company's stock valued at $55,000 after purchasing an additional 237 shares during the last quarter. Huntington National Bank boosted its holdings in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company's stock worth $27,000 after purchasing an additional 265 shares during the period. Finally, Ossiam boosted its holdings in shares of CarMax by 19.5% in the 2nd quarter. Ossiam now owns 1,713 shares of the company's stock worth $115,000 after purchasing an additional 280 shares during the period.

CarMax Stock Performance

KMX stock opened at $57.48 on Wednesday. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $63.74. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 1.80 and a beta of 1.17. The business's fifty day simple moving average is $48.45 and its two-hundred day simple moving average is $44.82. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. Analysts predict that CarMax, Inc. will post 2.7 earnings per share for the current year.

Analyst Ratings Changes

KMX has been the topic of several recent research reports. Morgan Stanley increased their price target on CarMax from $35.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, June 23rd. UBS Group lifted their price objective on shares of CarMax from $42.00 to $57.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada boosted their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. Argus raised shares of CarMax to a "hold" rating in a research note on Thursday, April 16th. Finally, Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 target price on the stock in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, CarMax presently has an average rating of "Reduce" and an average target price of $49.33.

Insider Activity at CarMax

In related news, Director Sona Chawla acquired 2,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director directly owned 21,702 shares of the company's stock, valued at $1,158,669.78. This represents a 10.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter J. Bensen acquired 2,500 shares of the stock in a transaction 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 owned 24,796 shares in the company, valued at $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 13,900 shares of company stock worth $735,574 in the last 90 days. 1.01% of the stock is owned by corporate insiders.

CarMax Company Profile

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.