Transmarket Holdings LP Purchases 269,404 Shares of ACV Auctions Inc. $ACVA

Key Points

• Transmarket Holdings LP acquired 269,404 shares of ACV Auctions in the third quarter, worth approximately $2.81 million and representing about 0.16% of the company. Institutional investors collectively own 88.55% of ACV Auctions.
• Analyst sentiment is mixed but leans toward caution: ACV Auctions has a consensus “Hold” rating from 16 analysts, with a consensus price target of $9.70.
• ACVA opened at $10.50, near its 12-month high of $10.51, after rising above its 50-day and 200-day moving averages. The company operates a digital marketplace for wholesale vehicle transactions and related services.

Transmarket Holdings LP purchased a new position in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 269,404 shares of the company's stock, valued at approximately $2,810,000. ACV Auctions makes up about 1.6% of Transmarket Holdings LP's holdings, making the stock its 14th largest position. Transmarket Holdings LP owned about 0.16% of ACV Auctions as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc grew its position in ACV Auctions by 28.8% in the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company's stock valued at $44,000 after acquiring an additional 1,382 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of ACV Auctions by 200.1% in the third quarter. Sterling Capital Management LLC now owns 4,820 shares of the company's stock worth $50,000 after acquiring an additional 3,214 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of ACV Auctions in the first quarter worth about $52,000. Chicago Partners Investment Group LLC bought a new position in shares of ACV Auctions in the first quarter worth about $52,000. Finally, American Trust acquired a new stake in shares of ACV Auctions in the 1st quarter valued at approximately $53,000. 88.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACVA. Wall Street Zen raised shares of ACV Auctions to a "hold" rating in a report on Saturday, October 17th. Citigroup increased their price objective on shares of ACV Auctions from $8.50 to $10.50 and gave the company a "neutral" rating in a research note on Monday, September 14th. Needham & Company LLC downgraded shares of ACV Auctions from a "buy" rating to a "hold" rating in a research note on Friday, September 11th. Barclays lowered shares of ACV Auctions from an "equal weight" rating to an "underweight" rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 11th. Finally, CJS Securities cut shares of ACV Auctions from a "market outperform" rating to a "market perform" rating in a research note on Tuesday, September 15th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.70.

ACV Auctions Price Performance

ACV Auctions stock opened at $10.50 on Thursday. The stock has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $7.13. ACV Auctions Inc. has a 12 month low of $4.07 and a 12 month high of $10.51. The company has a market capitalization of $1.78 billion, a PE ratio of -29.17 and a beta of 1.76. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers of used vehicles, enabling auctions to be conducted online rather than through traditional physical auction facilities.

The company provides tools and services intended to support the wholesale vehicle lifecycle, including online auctions, vehicle condition reports, inspections, transportation and logistics coordination, and transaction-related services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.