Senvest Management LLC Raises Position in ACV Auctions Inc. $ACVA

Key Points

• Senvest Management LLC increased its stake in ACV Auctions by 9.0% in the first quarter, adding 291,729 shares and bringing its total holding to 3,530,785 shares, or about 2.02% of the company.
• Institutional ownership remains very high, with hedge funds and other investors owning 88.55% of ACV Auctions stock, and several firms recently boosting or initiating positions.
• Analysts are mixed on the stock: the consensus rating is currently “Hold,” with a consensus price target of $10.23, while recent moves included a downgrade from Barrington Research and a target increase from Barclays.

Senvest Management LLC grew its holdings in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,530,785 shares of the company's stock after acquiring an additional 291,729 shares during the period. Senvest Management LLC owned about 2.02% of ACV Auctions worth $14,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in ACV Auctions by 72.4% in the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company's stock worth $27,000 after purchasing an additional 1,421 shares during the period. Caitong International Asset Management Co. Ltd increased its position in ACV Auctions by 2,573.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock worth $30,000 after buying an additional 3,629 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of ACV Auctions by 38,076.9% in the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company's stock worth $40,000 after buying an additional 4,950 shares during the period. Farther Finance Advisors LLC raised its stake in shares of ACV Auctions by 12,979.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company's stock worth $46,000 after buying an additional 5,711 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of ACV Auctions in the fourth quarter worth about $57,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

ACV Auctions Price Performance

NYSE:ACVA opened at $7.78 on Friday. The business's 50-day simple moving average is $6.64 and its two-hundred day simple moving average is $6.27. ACV Auctions Inc. has a 52 week low of $4.07 and a 52 week high of $14.91. The stock has a market cap of $1.36 billion, a PE ratio of -22.21 and a beta of 1.82. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACVA. Weiss Ratings reiterated a "sell (e+)" rating on shares of ACV Auctions in a research note on Wednesday, June 24th. Barrington Research cut shares of ACV Auctions from an "outperform" rating to a "market perform" rating and set a $7.00 target price on the stock. in a research note on Monday, June 1st. Barclays lifted their price target on shares of ACV Auctions from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Stephens upgraded shares of ACV Auctions to a "hold" rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.23.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.

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