Maxi Investments CY Ltd Invests $935,000 in CarMax, Inc. (NYSE:KMX)

Key Points

• Maxi Investments CY Ltd acquired 12,000 shares of CarMax, Inc. valued at approximately $935,000 during the 1st quarter, according to a recent SEC filing.
• CarMax's stock is currently down 2.3% and has a market capitalization of $8.21 billion, with a 52-week low of $54.53 and a high of $91.25.
• Recent quarterly earnings showed CarMax reporting $1.38 EPS, surpassing expectations, while its revenue increased by 6.1% year-over-year.

Maxi Investments CY Ltd acquired a new stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,000 shares of the company's stock, valued at approximately $935,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KMX. O Shaughnessy Asset Management LLC lifted its holdings in shares of CarMax by 25.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,877 shares of the company's stock valued at $726,000 after buying an additional 1,798 shares during the period. Arete Wealth Advisors LLC lifted its holdings in CarMax by 16.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 4,000 shares of the company's stock valued at $327,000 after acquiring an additional 562 shares during the period. Resona Asset Management Co. Ltd. bought a new position in CarMax in the fourth quarter valued at about $3,911,000. Aviva PLC grew its stake in shares of CarMax by 851.1% during the 4th quarter. Aviva PLC now owns 93,260 shares of the company's stock valued at $7,625,000 after purchasing an additional 83,454 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of CarMax by 67.2% during the 4th quarter. Russell Investments Group Ltd. now owns 68,958 shares of the company's stock valued at $5,649,000 after purchasing an additional 27,724 shares during the period.

Insider Buying and Selling at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

CarMax Price Performance

Shares of NYSE KMX traded down $0.98 during mid-day trading on Thursday, reaching $55.25. The company's stock had a trading volume of 2,352,608 shares, compared to its average volume of 3,189,981. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax, Inc. has a 52 week low of $54.53 and a 52 week high of $91.25. The stock has a fifty day moving average of $64.25 and a two-hundred day moving average of $70.96. The firm has a market capitalization of $8.29 billion, a PE ratio of 15.26, a P/E/G ratio of 0.91 and a beta of 1.36.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company's revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. As a group, sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

KMX has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of CarMax in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 price objective on the stock. Truist Financial increased their price target on shares of CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Robert W. Baird reduced their price objective on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.08.

CarMax 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.