EVR Research LP Sells 110,000 Shares of CarMax, Inc. $KMX

Key Points

• EVR Research LP has reduced its stake in CarMax, Inc. by 55.0%, now owning 90,000 shares valued at approximately $7,013,000.
• Several institutional investors, including Eisler Capital Management and Comerica Bank, increased their holdings in CarMax during the same quarter.
• CarMax recently reported a 6.1% year-over-year revenue increase, with quarterly earnings of $1.38 EPS surpassing estimates by $0.20.

EVR Research LP trimmed its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 55.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the company's stock after selling 110,000 shares during the period. CarMax makes up approximately 2.0% of EVR Research LP's investment portfolio, making the stock its 13th largest position. EVR Research LP owned about 0.06% of CarMax worth $7,013,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KMX. Zions Bancorporation National Association UT acquired a new stake in CarMax during the first quarter worth about $27,000. Accent Capital Management LLC acquired a new stake in CarMax during the first quarter worth about $34,000. Strengthening Families & Communities LLC boosted its stake in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of CarMax in the 4th quarter valued at approximately $53,000. Finally, Colonial Trust Co SC boosted its stake in shares of CarMax by 2,310.0% in the 4th 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.

Insider Transactions at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KMX. Evercore ISI reduced their price target on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Stephens restated an "overweight" rating and issued a $81.00 price target on shares of CarMax in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upgraded shares of CarMax from an "underweight" rating to a "neutral" rating and reduced their price target for the company from $65.00 to $58.00 in a research note on Wednesday, August 6th. Wedbush restated an "outperform" rating and issued a $84.00 price target on shares of CarMax in a research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CarMax currently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

CarMax Trading Down 1.3%

NYSE KMX traded down $0.84 during trading hours on Friday, reaching $61.33. The company's stock had a trading volume of 1,863,390 shares, compared to its average volume of 2,663,270. The firm has a fifty day simple moving average of $61.99 and a 200-day simple moving average of $68.03. The stock has a market cap of $9.20 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.00 and a beta of 1.36. CarMax, Inc. has a 52 week low of $54.53 and a 52 week high of $91.25. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. Equities analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

About CarMax

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.