Freestone Grove Partners LP Makes New Investment in CarMax, Inc. (NYSE:KMX)

Freestone Grove Partners LP purchased a new position in CarMax, Inc. (NYSE:KMX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 250,777 shares of the company's stock, valued at approximately $20,504,000. Freestone Grove Partners LP owned 0.16% of CarMax at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cromwell Holdings LLC boosted its holdings in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock worth $35,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP boosted its position in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company's stock valued at $51,000 after purchasing an additional 249 shares during the period. ST Germain D J Co. Inc. acquired a new stake in CarMax during the 4th quarter worth about $58,000. Farther Finance Advisors LLC increased its position in shares of CarMax by 91.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company's stock worth $82,000 after acquiring an additional 480 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of CarMax during the fourth quarter valued at approximately $85,000.

Analyst Ratings Changes

KMX has been the subject of a number of research analyst reports. Wedbush restated an "outperform" rating and issued a $90.00 target price on shares of CarMax in a report on Monday, April 21st. StockNews.com cut shares of CarMax from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Needham & Company LLC decreased their target price on shares of CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Evercore ISI cut their price objective on CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their target price on CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $87.73.

CarMax Stock Performance

Shares of NYSE KMX traded up $0.18 during trading hours on Tuesday, hitting $66.47. 1,429,419 shares of the stock were exchanged, compared to its average volume of 2,113,218. The firm has a market capitalization of $10.15 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.67 and a beta of 1.58. CarMax, Inc. has a one year low of $61.67 and a one year high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The company's 50 day moving average is $72.06 and its 200 day moving average is $78.19.

Insider Activity

In other CarMax news, Director Mitchell D. Steenrod bought 1,300 shares of the stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the acquisition, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. This represents a 4.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.66% of the stock is currently owned by company insiders.

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.