Tudor Investment Corp ET AL Has $9.74 Million Stock Holdings in ACV Auctions Inc. $ACVA

Key Points

• Tudor Investment Corp boosted its stake in ACV Auctions by 116.3% to 982,558 shares, worth about $9.74 million, representing roughly 0.57% of the company as of the most recent quarter.
• Several research firms have cut ratings and price targets recently (Jefferies and Citigroup downgraded), but the consensus remains a "Moderate Buy" with an average price target of $10.45.
• CEO George Chamoun bought 24,272 shares at $5.05, increasing his holdings to ~2.95 million shares (insiders own 2.9%), while the company posted an EPS miss of ($0.11) versus ($0.01) expected despite revenue of $183.65M, up 15.2% year-over-year.

Tudor Investment Corp ET AL lifted its holdings in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 116.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 982,558 shares of the company's stock after buying an additional 528,390 shares during the period. Tudor Investment Corp ET AL owned about 0.57% of ACV Auctions worth $9,737,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC increased its stake in ACV Auctions by 3.3% in the third quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company's stock valued at $113,685,000 after acquiring an additional 362,003 shares during the last quarter. Wasatch Advisors LP lifted its holdings in ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company's stock valued at $118,331,000 after buying an additional 5,475,874 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in shares of ACV Auctions by 30.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company's stock valued at $62,803,000 after purchasing an additional 1,475,932 shares during the period. Alliancebernstein L.P. increased its position in shares of ACV Auctions by 14.1% during the third quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company's stock worth $62,753,000 after acquiring an additional 784,411 shares in the last quarter. Finally, Atreides Management LP increased its position in shares of ACV Auctions by 17.4% during the third quarter. Atreides Management LP now owns 5,510,790 shares of the company's stock worth $54,612,000 after acquiring an additional 816,556 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ACVA. Jefferies Financial Group downgraded shares of ACV Auctions from a "buy" rating to a "hold" rating and set a $9.00 price objective for the company. in a report on Thursday, December 11th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 target price on shares of ACV Auctions in a research report on Tuesday, February 24th. Barclays cut their target price on shares of ACV Auctions from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Monday, March 2nd. The Goldman Sachs Group lowered their price target on shares of ACV Auctions from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, February 24th. Finally, Citigroup cut shares of ACV Auctions from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $13.00 to $7.00 in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.45.

Insider Buying and Selling at ACV Auctions

In related news, CEO George Chamoun bought 24,272 shares of the firm's stock in a transaction on Monday, March 9th. The shares were bought at an average price of $5.05 per share, with a total value of $122,573.60. Following the completion of the transaction, the chief executive officer directly owned 2,952,977 shares of the company's stock, valued at $14,912,533.85. This represents a 0.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.90% of the company's stock.

ACV Auctions Trading Up 6.2%

ACVA stock opened at $4.63 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $806.29 million, a PE ratio of -12.19 and a beta of 1.69. The firm's 50-day moving average is $5.71 and its 200 day moving average is $7.43. ACV Auctions Inc. has a 12 month low of $4.07 and a 12 month high of $17.54.

ACV Auctions (NYSE:ACVA - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The company had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. During the same quarter last year, the business earned ($0.16) earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis.

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.

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.