Gotham Asset Management LLC Acquires 41,385 Shares of CarMax, Inc. $KMX

Key Points

• Gotham Asset Management LLC increased its stake in CarMax, Inc. by 34.8%, owning a total of 160,292 shares valued at approximately $12.49 million after acquiring an additional 41,385 shares.
• Multiple hedge funds have shown interest in CarMax, with new positions and significant stake increases occurring alongside Gotham's investment.
• CarMax's recent earnings report beat analysts' expectations, with an EPS of $1.38, although its revenue of $7.55 billion slightly missed estimates.

Gotham Asset Management LLC raised its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 34.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,292 shares of the company's stock after acquiring an additional 41,385 shares during the quarter. Gotham Asset Management LLC owned approximately 0.10% of CarMax worth $12,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of KMX. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CarMax by 626.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company's stock worth $70,364,000 after acquiring an additional 778,652 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after acquiring an additional 509,952 shares during the last quarter. ThornTree Capital Partners LP purchased a new position in shares of CarMax during the 4th quarter worth $35,612,000. Nuveen LLC purchased a new position in shares of CarMax during the 1st quarter worth $33,872,000. Finally, Wellington Management Group LLP boosted its stake in shares of CarMax by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 815,461 shares of the company's stock worth $63,541,000 after acquiring an additional 207,665 shares during the last quarter.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax 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 in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

CarMax Price Performance

NYSE KMX traded up $0.04 on Tuesday, reaching $61.42. The company had a trading volume of 2,237,942 shares, compared to its average volume of 2,476,621. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $9.22 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.00 and a beta of 1.35. The firm's 50 day moving average price is $61.00 and its 200 day moving average price is $66.74. CarMax, Inc. has a 12 month low of $54.53 and a 12 month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. CarMax's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. As a group, equities analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $92.00 price target on shares of CarMax in a research note on Monday, June 23rd. Evercore ISI decreased their price objective on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Royal Bank Of Canada raised their price objective on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, June 23rd. Morgan Stanley assumed coverage on shares of CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price objective on the stock. Finally, Benchmark assumed coverage on shares of CarMax in a research report on Thursday, July 17th. They set a "buy" rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CarMax has a consensus rating of "Moderate Buy" and an average target price of $81.50.

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.