Y Intercept Hong Kong Ltd Sells 144,357 Shares of ACV Auctions Inc. $ACVA

Key Points

• Y Intercept Hong Kong Ltd sharply reduced its ACV Auctions stake by 85.5% in the first quarter, selling 144,357 shares and leaving it with 24,502 shares worth about $104,000.
• Despite that sale, institutional ownership remains high, with 88.55% of ACV Auctions’ stock held by institutions and hedge funds; several other investors also added to their positions.
• Analyst sentiment is mixed: recent moves included a downgrade from Barrington Research and a Hold rating from Stephens, while the stock’s overall consensus rating is Hold with a $10.14 price target.

Y Intercept Hong Kong Ltd cut its stake in shares of ACV Auctions Inc. (NYSE:ACVA - Free Report) by 85.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,502 shares of the company's stock after selling 144,357 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in ACV Auctions were worth $104,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ACVA. Fifth Third Bancorp raised its holdings in shares of ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company's stock valued at $27,000 after purchasing an additional 1,421 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in ACV Auctions by 2,573.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock valued at $30,000 after acquiring an additional 3,629 shares during the period. Larson Financial Group LLC grew its stake in ACV Auctions by 38,076.9% in the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company's stock valued at $40,000 after acquiring an additional 4,950 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of ACV Auctions by 12,979.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company's stock valued at $46,000 after acquiring an additional 5,711 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of ACV Auctions during the fourth quarter valued at approximately $57,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Stock Up 3.3%

ACV Auctions stock opened at $7.46 on Thursday. ACV Auctions Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $16.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.47 and a current ratio of 1.47. The firm's 50-day simple moving average is $6.41 and its 200 day simple moving average is $6.28. The stock has a market cap of $1.30 billion, a PE ratio of -21.33 and a beta of 1.82.

Analyst Ratings Changes

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

ACV Auctions 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.

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