CarMax, Inc. $KMX Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC reduced its holdings in CarMax, Inc. by 46.8%, now owning 13,670 shares valued at approximately $1.07 million.
• Several large investors have modified their positions in CarMax, with Maverick Capital Ltd. acquiring a new position worth around $6.16 million.
• Analysts have mixed ratings for CarMax, with a target price range from $58.00 to $84.00, and an average rating of "Moderate Buy".

PDT Partners LLC lowered its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 46.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,670 shares of the company's stock after selling 12,031 shares during the period. PDT Partners LLC's holdings in CarMax were worth $1,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMX. Redmond Asset Management LLC raised its holdings in CarMax by 0.3% in the 1st quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock worth $3,959,000 after purchasing an additional 152 shares in the last quarter. Maia Wealth LLC grew its position in CarMax by 0.6% during the 1st quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock valued at $2,034,000 after purchasing an additional 157 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after acquiring an additional 176 shares during the period. Nicolet Advisory Services LLC lifted its stake in CarMax by 6.3% during the 1st quarter. Nicolet Advisory Services LLC now owns 3,576 shares of the company's stock valued at $279,000 after acquiring an additional 212 shares during the period. Finally, Quarry LP lifted its stake in CarMax by 50.5% during the 1st quarter. Quarry LP now owns 694 shares of the company's stock valued at $54,000 after acquiring an additional 233 shares during the period.

Analysts Set New Price Targets

A number of research firms have commented on KMX. Wedbush restated an "outperform" rating and set a $84.00 target price on shares of CarMax in a research note on Tuesday, August 19th. Needham & Company LLC reissued a "buy" rating and issued a $92.00 target price on shares of CarMax in a report on Monday, June 23rd. Evercore ISI lowered their price target on CarMax from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and lowered their price target for the stock from $65.00 to $58.00 in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada lifted their target price on CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $81.50.

CarMax Stock Down 0.1%

KMX stock traded down $0.07 during mid-day trading on Tuesday, reaching $61.32. The company had a trading volume of 793,917 shares, compared to its average volume of 2,907,173. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.35. The firm has a fifty day simple moving average of $61.18 and a 200 day simple moving average of $66.78. CarMax, Inc. has a fifty-two week low of $54.53 and a fifty-two week high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. Analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

CarMax Company 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.