True North Advisors LLC Invests $743,000 in ACV Auctions Inc. $ACVA

Key Points

• True North Advisors LLC bought a new stake in ACV Auctions, purchasing 175,170 shares worth about $743,000 in the first quarter.
• Institutional ownership in ACV Auctions remains high at 88.55%, and several other big investors also increased their positions in recent quarters.
• The stock was down 2.7% and traded at $7.42, while Wall Street sentiment was mixed with a consensus Hold rating and an average price target of $10.14.

True North Advisors LLC purchased a new stake in ACV Auctions Inc. (NYSE:ACVA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 175,170 shares of the company's stock, valued at approximately $743,000. True North Advisors LLC owned 0.10% of ACV Auctions as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Iridian Asset Management LLC CT lifted its position in ACV Auctions by 58.9% in the 4th quarter. Iridian Asset Management LLC CT now owns 2,989,152 shares of the company's stock valued at $23,973,000 after acquiring an additional 1,108,301 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in ACV Auctions by 116.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 982,558 shares of the company's stock worth $9,737,000 after purchasing an additional 528,390 shares in the last quarter. UBS Group AG increased its holdings in ACV Auctions by 233.8% during the 4th quarter. UBS Group AG now owns 1,527,108 shares of the company's stock worth $12,247,000 after purchasing an additional 1,069,644 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of ACV Auctions in the 4th quarter valued at about $392,000. Finally, Royce & Associates LP lifted its holdings in shares of ACV Auctions by 141.7% in the fourth quarter. Royce & Associates LP now owns 1,736,476 shares of the company's stock valued at $13,927,000 after purchasing an additional 1,018,084 shares in the last quarter. Institutional investors own 88.55% of the company's stock.

ACV Auctions Stock Down 2.7%

ACVA stock opened at $7.42 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -21.21 and a beta of 1.82. ACV Auctions Inc. has a twelve month low of $4.07 and a twelve month high of $15.48. The business has a 50 day moving average price of $6.45 and a two-hundred day moving average price of $6.28. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46.

Wall Street Analysts Forecast Growth

ACVA has been the subject of several research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ACV Auctions in a research note on Wednesday, June 24th. Stephens upgraded shares of ACV Auctions to a "hold" rating in a report on Monday, June 1st. Finally, Barrington Research downgraded shares of ACV Auctions from an "outperform" rating to a "market perform" rating and set a $7.00 target price for the company. in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.14.

About ACV Auctions

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.

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.