MRA Advisory Group Makes New Investment in Carvana Co. $CVNA

Key Points

• MRA Advisory Group acquired a new position in Carvana Co. by purchasing 2,098 shares valued at approximately $707,000 during the second quarter.
• Several institutional investors have significantly increased their stakes in Carvana, with Brooklyn Investment Group raising holdings by 961.5%.
• Analysts have set high price targets for Carvana, with JPMorgan raising their target from $350 to $415, while Wells Fargo has increased theirs to $425.

MRA Advisory Group bought a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,098 shares of the company's stock, valued at approximately $707,000.

Several other large investors have also bought and sold shares of CVNA. Brooklyn Investment Group raised its holdings in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the 1st quarter valued at about $33,000. Geneos Wealth Management Inc. boosted its holdings in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after acquiring an additional 181 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after acquiring an additional 82 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Carvana during the 1st quarter valued at about $90,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVNA shares. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Bank of America raised their price target on shares of Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada raised their price target on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average price target of $383.47.

Carvana Price Performance

Shares of NYSE:CVNA opened at $361.66 on Monday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. Carvana Co. has a 1-year low of $140.23 and a 1-year high of $413.33. The company has a market capitalization of $77.83 billion, a P/E ratio of 90.64, a P/E/G ratio of 1.19 and a beta of 3.51. The firm's 50 day simple moving average is $354.06 and its two-hundred day simple moving average is $290.85.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The company's revenue for the quarter was up 41.9% on a year-over-year basis. Research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the sale, the insider owned 36,437,346 shares in the company, valued at $12,890,075,520.96. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the sale, the insider owned 6,624 shares in the company, valued at approximately $2,610,915.84. The trade was a 93.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,416,037 shares of company stock worth $854,448,368 in the last ninety days. Insiders own 16.36% of the company's stock.

Carvana Profile

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.

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