Corient Private Wealth LP Reduces Stake in ACV Auctions Inc. $ACVA

Key Points

• Corient Private Wealth LP cut its ACV Auctions stake by 85.1% in the second quarter, selling 233,919 shares and retaining 40,861 shares valued at approximately $294,000.
• Institutional ownership remains high at 88.55%, with several investors—including Quantinno Capital Management and Fifth Third Bancorp—recently increasing their positions or initiating new stakes.
• Analyst sentiment is mixed but leans neutral: ACV Auctions has an average “Hold” rating and a consensus price target of $9.70, while the stock recently opened at $10.46 near its 52-week high.

Corient Private Wealth LP lowered its stake in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 85.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,861 shares of the company's stock after selling 233,919 shares during the quarter. Corient Private Wealth LP's holdings in ACV Auctions were worth $294,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in ACV Auctions during the first quarter worth about $815,000. Quantinno Capital Management LP increased its position in shares of ACV Auctions by 215.8% during the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company's stock valued at $1,804,000 after purchasing an additional 290,739 shares during the period. True North Advisors LLC bought a new stake in shares of ACV Auctions during the first quarter valued at approximately $743,000. Fifth Third Bancorp raised its stake in shares of ACV Auctions by 3,753.7% in the first quarter. Fifth Third Bancorp now owns 130,370 shares of the company's stock valued at $553,000 after purchasing an additional 126,987 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of ACV Auctions in the second quarter valued at $3,996,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACVA has been the topic of a number of recent research reports. Bank of America reiterated an "underperform" rating on shares of ACV Auctions in a research note on Tuesday, August 11th. CJS Securities cut shares of ACV Auctions from a "market outperform" rating to a "market perform" rating in a research note on Tuesday, September 15th. Needham & Company LLC lowered ACV Auctions from a "buy" rating to a "hold" rating in a research note on Friday, September 11th. Weiss Ratings upgraded ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 5th. Finally, Citigroup upped their price target on ACV Auctions from $8.50 to $10.50 and gave the company a "neutral" rating in a research report on Monday, September 14th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $9.70.

ACV Auctions Price Performance

Shares of ACVA stock opened at $10.46 on Friday. ACV Auctions Inc. has a 1 year low of $4.07 and a 1 year high of $10.50. The firm's 50 day moving average is $8.42 and its 200-day moving average is $6.75. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -29.04 and a beta of 1.76. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53.

ACV Auctions Profile

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers, enabling vehicles to be auctioned online rather than through traditional physical wholesale auctions.

The company provides services intended to support the wholesale vehicle lifecycle, including vehicle listings, digital auctions, condition reports and inspection tools. Its platform also offers related solutions such as transportation coordination, title processing and financing options for eligible dealers.

Founded in 2014 and headquartered in Buffalo, New York, ACV Auctions primarily serves automotive dealers and other participants in the United States wholesale vehicle market.

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