MBB Public Markets I LLC Makes New $344,000 Investment in CarMax, Inc. $KMX

Key Points

• MBB Public Markets I LLC made a new investment in CarMax, Inc., purchasing 4,410 shares valued at approximately $344,000 during the 1st quarter.
• CarMax reported earnings of $1.38 per share, exceeding analysts' estimates of $1.18, with revenue of $7.55 billion for the quarter.
• The stock has recently seen various analyst ratings with a consensus target price of $81.50, indicating a moderate buy sentiment among analysts.

MBB Public Markets I LLC bought a new position in CarMax, Inc. (NYSE:KMX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,410 shares of the company's stock, valued at approximately $344,000.

Several other hedge funds also recently bought and sold shares of the company. Vancity Investment Management Ltd acquired a new position in CarMax in the 1st quarter worth about $10,578,000. United Services Automobile Association acquired a new position in CarMax in the 1st quarter worth about $287,000. Jones Financial Companies Lllp increased its position in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock worth $419,000 after purchasing an additional 161 shares during the last quarter. ThornTree Capital Partners LP increased its position in CarMax by 7.9% in the 1st quarter. ThornTree Capital Partners LP now owns 470,068 shares of the company's stock worth $36,628,000 after purchasing an additional 34,500 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in CarMax by 8.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 26,121 shares of the company's stock worth $2,035,000 after purchasing an additional 2,033 shares during the last quarter.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction that occurred on 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 owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

KMX has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $92.00 target price on shares of CarMax in a research report on Monday, June 23rd. Evercore ISI lowered their price objective on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Royal Bank Of Canada increased their price objective on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Benchmark assumed coverage on CarMax in a report on Thursday, July 17th. They set a "buy" rating and a $75.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on CarMax in a report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

CarMax Stock Performance

KMX opened at $60.75 on Monday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.35. The stock's 50 day moving average price is $61.30 and its two-hundred day moving average price is $66.93. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 12-month low of $54.53 and a 12-month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results 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 firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The company's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. On average, equities analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current 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.

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