Krilogy Financial LLC Invests $718,000 in CarMax, Inc. $KMX

Key Points

• Krilogy Financial LLC acquired a new position in CarMax, purchasing 10,681 shares valued at approximately $718,000 in the second quarter.
• CarMax reported a net margin of 2.09% and a return on equity of 9.11%, with revenue up 6.1% year-over-year, despite estimating slightly lower than analyst expectations.
• An insider, Jon G. Daniels, sold 1,540 shares at an average price of $70.64, which represented a 35.66% decrease in his ownership stake in the company.

Krilogy Financial LLC bought a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,681 shares of the company's stock, valued at approximately $718,000.

A number of other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in CarMax by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock valued at $1,571,000 after purchasing an additional 2,375 shares during the last quarter. Teacher Retirement System of Texas bought a new position in CarMax in the 1st quarter worth about $1,753,000. Sequoia Financial Advisors LLC lifted its stake in CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after acquiring an additional 176 shares during the period. Asset Management One Co. Ltd. increased its position in shares of CarMax by 3.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock valued at $4,726,000 after purchasing an additional 2,078 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in CarMax by 12.6% in the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock worth $516,000 after acquiring an additional 742 shares in the last quarter.

Analyst Upgrades and Downgrades

KMX has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Morgan Stanley assumed coverage on CarMax in a report on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 target price for the company. JPMorgan Chase & Co. increased their target price on CarMax from $58.00 to $65.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Wedbush reiterated an "outperform" rating and issued a $84.00 price objective on shares of CarMax in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CarMax currently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Insider Activity

In other news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

CarMax Stock Down 2.6%

NYSE KMX traded down $1.58 on Friday, hitting $58.42. 5,808,787 shares of the stock traded hands, compared to its average volume of 2,424,319. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The stock has a 50-day moving average of $59.63 and a 200 day moving average of $65.52. The company has a market capitalization of $8.77 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35. CarMax, Inc. has a twelve month low of $54.53 and a twelve 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 for the quarter, topping analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the prior year, the firm earned $0.97 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts expect 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.