Trexquant Investment LP Purchases 68,586 Shares of CarMax, Inc. $KMX

Key Points

• Trexquant Investment LP increased its stake in CarMax, Inc. by 93.5%, now holding 141,960 shares valued at approximately $11 million.
• Other institutional investors have also significantly increased their positions in CarMax, with Fuller & Thaler Asset Management boosting theirs by 626.1% and GAMMA Investing by a staggering 8,675.6%.
• CarMax reported an earnings per share (EPS) of $1.38 for the most recent quarter, surpassing analyst expectations of $1.18, but its revenue of $7.55 billion fell slightly short of projections.

Trexquant Investment LP lifted its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 93.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,960 shares of the company's stock after buying an additional 68,586 shares during the quarter. Trexquant Investment LP owned about 0.09% of CarMax worth $11,062,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CarMax by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock valued at $1,571,000 after buying an additional 2,375 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in CarMax in the first quarter worth about $1,753,000. Sequoia Financial Advisors LLC increased its position in CarMax by 5.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares during the period. Asset Management One Co. Ltd. increased its position in CarMax by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock worth $4,726,000 after purchasing an additional 2,078 shares during the period. Finally, GAMMA Investing LLC increased its position in CarMax by 12.6% in the first quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock worth $516,000 after purchasing an additional 742 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KMX shares. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and decreased their target price for the stock from $65.00 to $58.00 in a research report on Wednesday, August 6th. Royal Bank Of Canada boosted 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. Benchmark started coverage on CarMax in a research report on Thursday, July 17th. They set a "buy" rating and a $75.00 target price for the company. Mizuho decreased their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Finally, Stephens restated an "overweight" rating and set a $81.00 target price on shares of CarMax in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CarMax presently has an average rating of "Moderate Buy" and a consensus price target of $81.50.

CarMax Stock Up 0.8%

Shares of KMX traded up $0.46 on Wednesday, hitting $60.15. The company's stock had a trading volume of 4,033,650 shares, compared to its average volume of 2,920,978. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The firm's fifty day moving average price is $61.68 and its 200-day moving average price is $67.64. CarMax, Inc. has a fifty-two week low of $54.53 and a fifty-two week high of $91.25. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.00 and a beta of 1.35.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the firm earned $0.97 EPS. CarMax's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company's stock.

CarMax 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.