Kinsale Capital Group Inc. Has $6.11 Million Position in CarMax, Inc. $KMX

Key Points

• Kinsale Capital Group increased its CarMax stake by 21.3% in the first quarter, holding 146,993 shares worth about $6.11 million after buying an additional 25,850 shares.
• CarMax recently reported better-than-expected quarterly results, with EPS of $1.31 versus the $0.96 consensus and revenue of $8.01 billion versus $7.42 billion expected. Revenue rose 6.2% year over year.
• Analysts remain cautious overall despite several price-target increases: the stock has a consensus rating of “Reduce” and a consensus price target of $47.73, while insiders have also been buying shares recently.

Kinsale Capital Group Inc. lifted its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,993 shares of the company's stock after acquiring an additional 25,850 shares during the period. Kinsale Capital Group Inc. owned approximately 0.10% of CarMax worth $6,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company's stock worth $306,429,000 after purchasing an additional 4,780,903 shares during the period. SRS Investment Management LLC lifted its stake in CarMax by 1,717.5% in the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock valued at $217,845,000 after buying an additional 5,327,603 shares during the period. Norges Bank acquired a new position in CarMax in the fourth quarter valued at approximately $159,232,000. Dimensional Fund Advisors LP boosted its holdings in shares of CarMax by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,985,895 shares of the company's stock worth $154,023,000 after buying an additional 300,694 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of CarMax by 73.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company's stock worth $158,074,000 after buying an additional 1,494,205 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KMX. Truist Financial raised their price objective on shares of CarMax from $47.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, June 18th. Royal Bank Of Canada increased their target price on shares of CarMax from $41.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 18th. Benchmark restated a "hold" rating on shares of CarMax in a report on Thursday, June 18th. Robert W. Baird lifted their price target on shares of CarMax from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, June 18th. Finally, UBS Group upped their price objective on shares of CarMax from $42.00 to $57.00 and gave the company a "neutral" rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, CarMax presently has a consensus rating of "Reduce" and a consensus price target of $47.73.

CarMax Price Performance

Shares of NYSE:KMX opened at $57.37 on Friday. 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, Inc. has a twelve month low of $30.26 and a twelve month high of $63.74. The stock's 50 day moving average is $47.73 and its 200-day moving average is $44.53. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 1.85 and a beta of 1.17.

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, topping analysts' consensus estimates of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to analysts' expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. Sell-side analysts forecast that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other CarMax news, Director Sona Chawla bought 2,000 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the transaction, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. The trade was a 10.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter J. Bensen bought 2,500 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were acquired 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 of the company's stock, valued at $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 13,900 shares of company stock worth $735,574. Insiders own 1.01% of the company's stock.

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.

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