Mackenzie Financial Corp Invests $1.15 Million in Carvana Co. (NYSE:CVNA)

Mackenzie Financial Corp acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,669 shares of the company's stock, valued at approximately $1,153,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quent Capital LLC purchased a new stake in shares of Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC increased its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the 4th quarter worth approximately $31,000. Venturi Wealth Management LLC increased its position in shares of Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock worth $46,000 after purchasing an additional 99 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Carvana during the fourth quarter worth approximately $48,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Trading Up 2.1%

Shares of NYSE CVNA traded up $7.08 during mid-day trading on Tuesday, reaching $338.52. 2,587,396 shares of the company's stock were exchanged, compared to its average volume of 4,587,473. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market capitalization of $72.49 billion, a price-to-earnings ratio of 215.86 and a beta of 3.61. The company's 50-day moving average is $247.69 and its 200-day moving average is $235.72. Carvana Co. has a 52-week low of $97.92 and a 52-week high of $340.94.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Carvana's revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Citigroup upped their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Evercore ISI dropped their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.65.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ernest C. Garcia III sold 3,086 shares of Carvana stock in a transaction on Friday, May 30th. The shares were sold at an average price of $324.54, for a total value of $1,001,530.44. Following the completion of the transaction, the chief executive officer now owns 795,000 shares of the company's stock, valued at approximately $258,009,300. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 702,813 shares of company stock worth $180,971,479 over the last ninety days. Company insiders own 17.12% of the company's stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.