OLD Mission Capital LLC Makes New Investment in Carvana Co. $CVNA

Key Points

• OLD Mission Capital LLC has made a new investment in Carvana, purchasing 1,136 shares valued at approximately $238,000.
• Carvana's stock has seen a significant increase, with a 2.3% rise, contributing to a market cap of $79.79 billion.
• Institutional investors own over 56% of Carvana's stock, indicating strong institutional interest and confidence in the company.

OLD Mission Capital LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,136 shares of the company's stock, valued at approximately $238,000.

Several other large investors also recently added to or reduced their stakes in CVNA. Brightlight Capital Management LP boosted its position in shares of Carvana by 21.9% in the first quarter. Brightlight Capital Management LP now owns 227,300 shares of the company's stock worth $47,524,000 after buying an additional 40,900 shares during the period. Vident Advisory LLC acquired a new stake in Carvana during the 1st quarter worth about $804,000. The Manufacturers Life Insurance Company boosted its position in Carvana by 31.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 263,101 shares of the company's stock worth $55,009,000 after acquiring an additional 63,559 shares during the period. Gordian Capital Singapore Pte Ltd grew its stake in Carvana by 25.0% during the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 600 shares of the company's stock valued at $123,000 after acquiring an additional 120 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Carvana by 77.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 191,847 shares of the company's stock valued at $40,111,000 after purchasing an additional 84,035 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Down 0.3%

Shares of Carvana stock traded down $0.94 during midday trading on Friday, reaching $369.23. 2,443,272 shares of the company's stock traded hands, compared to its average volume of 2,330,485. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33. The company's 50 day simple moving average is $351.83 and its 200 day simple moving average is $285.61. The company has a market cap of $79.46 billion, a price-to-earnings ratio of 92.54, a price-to-earnings-growth ratio of 1.22 and a beta of 3.51.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping 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 firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. The business's quarterly revenue was up 41.9% on a year-over-year basis. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVNA. Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Royal Bank Of Canada increased their target price on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer raised shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price for the company in a research note on Friday, July 25th. Bank of America upped their price target on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Piper Sandler increased their price objective on Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $383.47.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $364.66, for a total transaction of $3,646,600.00. Following the completion of the sale, the chief operating officer owned 104,416 shares of the company's stock, valued at $38,076,338.56. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.04, for a total transaction of $361,040.00. Following the completion of the transaction, the vice president directly owned 45,157 shares in the company, valued at approximately $16,303,483.28. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,522,933 shares of company stock worth $888,062,136. Insiders own 17.12% of the company's stock.

Carvana Company 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.