Vident Advisory LLC Sells 122,300 Shares of CarMax, Inc. $KMX

Key Points

• Vident Advisory LLC has significantly reduced its holdings in CarMax, Inc. by 97.8%, owning only 2,721 shares valued at $212,000 after selling 122,300 shares in the first quarter.
• Other institutional investors have increased their stakes in CarMax, with Mirae Asset Global Investments Co. Ltd. buying 2,375 shares and raising its holdings by 13% to $1.57 million.
• CarMax's recent earnings report showed an EPS of $1.38, surpassing analyst expectations, though revenue slightly fell short of projections at $7.55 billion.

Vident Advisory LLC reduced its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 97.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,721 shares of the company's stock after selling 122,300 shares during the quarter. Vident Advisory LLC's holdings in CarMax were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KMX. Zions Bancorporation National Association UT bought a new stake in shares of CarMax in the 1st quarter valued at about $27,000. Accent Capital Management LLC acquired a new position in CarMax during the first quarter worth approximately $34,000. Strengthening Families & Communities LLC boosted its stake in shares of CarMax by 93.1% during the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock worth $39,000 after acquiring an additional 256 shares during the period. Ameriflex Group Inc. acquired a new position in shares of CarMax during the 4th quarter worth approximately $53,000. Finally, Blue Trust Inc. increased its holdings in shares of CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after acquiring an additional 296 shares during the last quarter.

Analyst Ratings Changes

KMX has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price objective on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Evercore ISI decreased their price target on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Needham & Company LLC restated a "buy" rating and set a $92.00 price objective on shares of CarMax in a research report on Monday, June 23rd. Wedbush reaffirmed an "outperform" rating and issued a $84.00 target price on shares of CarMax in a research report on Tuesday, August 19th. Finally, Morgan Stanley began coverage on CarMax in a research note on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.50.

Insider Buying and Selling at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the sale, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

CarMax Price Performance

Shares of NYSE:KMX traded down $1.44 during trading on Friday, reaching $59.81. 1,975,098 shares of the company traded hands, compared to its average volume of 2,457,354. The firm has a market capitalization of $8.98 billion, a PE ratio of 16.52, a PEG ratio of 1.00 and a beta of 1.35. CarMax, Inc. has a 52 week low of $54.53 and a 52 week high of $91.25. 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 company's 50 day moving average is $60.38 and its two-hundred day moving average is $66.38.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter last year, the business earned $0.97 earnings per share. CarMax's revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

About CarMax

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.