Massachusetts Financial Services Co. MA Lowers Stock Position in ACV Auctions Inc. $ACVA

Key Points

• Massachusetts Financial Services Co. MA trimmed its ACV Auctions stake by 16.7%, selling 1,108,472 shares and ending the quarter with 5,535,465 shares (≈3.22% of the company) worth $44.39 million.
• CEO George Chamoun purchased 24,272 shares at $5.05 on March 9, boosting his holdings to 2,952,977 shares, and corporate insiders now own about 2.90% of ACVA.
• ACV reported Q results with an EPS loss of ($0.11) that missed estimates by $0.10 while revenue rose 15.2% to $183.65 million; analysts' consensus is a Moderate Buy with an average target price of $10.45.

Massachusetts Financial Services Co. MA lessened its holdings in ACV Auctions Inc. (NYSE:ACVA - Free Report) by 16.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,535,465 shares of the company's stock after selling 1,108,472 shares during the period. Massachusetts Financial Services Co. MA owned about 3.22% of ACV Auctions worth $44,394,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ACVA. Wasatch Advisors LP lifted its stake in shares of ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company's stock worth $118,331,000 after purchasing an additional 5,475,874 shares during the last quarter. SG Capital Management LLC purchased a new stake in shares of ACV Auctions during the 3rd quarter worth $17,103,000. ArrowMark Colorado Holdings LLC lifted its stake in shares of ACV Auctions by 30.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company's stock worth $62,803,000 after purchasing an additional 1,475,932 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new stake in shares of ACV Auctions during the 3rd quarter worth $14,502,000. Finally, Atreides Management LP lifted its stake in shares of ACV Auctions by 17.4% during the 3rd quarter. Atreides Management LP now owns 5,510,790 shares of the company's stock worth $54,612,000 after purchasing an additional 816,556 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACVA. B. Riley Financial decreased their price objective on ACV Auctions from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. Barrington Research raised shares of ACV Auctions from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of ACV Auctions in a research report on Friday, March 27th. Wall Street Zen raised shares of ACV Auctions from a "sell" rating to a "hold" rating in a research report on Sunday, February 1st. Finally, Royal Bank Of Canada raised shares of ACV Auctions to an "outperform" rating in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, ACV Auctions has an average rating of "Moderate Buy" and an average target price of $10.45.

Insider Activity

In related news, CEO George Chamoun purchased 24,272 shares of the firm's stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $5.05 per share, with a total value of $122,573.60. Following the completion of the acquisition, the chief executive officer owned 2,952,977 shares in the company, valued at approximately $14,912,533.85. This represents a 0.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.90% of the company's stock.

ACV Auctions Trading Up 2.8%

ACV Auctions stock opened at $4.65 on Wednesday. The stock has a 50-day moving average of $5.30 and a two-hundred day moving average of $7.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.60 and a current ratio of 1.60. ACV Auctions Inc. has a one year low of $4.07 and a one year high of $17.54. The stock has a market cap of $808.73 million, a PE ratio of -12.23 and a beta of 1.69.

ACV Auctions (NYSE:ACVA - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 8.71% and a negative return on equity of 6.17%. The business had revenue of $183.65 million during the quarter, compared to analysts' expectations of $181.96 million. During the same quarter last year, the business posted ($0.16) earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.

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