CarMax Inc (KMX) Shares Gap Down After Insider Selling
CarMax Inc (NYSE:KMX) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $72.02, but opened at $70.55. CarMax shares last traded at $69.45, with a volume of 2627179 shares trading hands.
Specifically, SVP Diane L. Cafritz sold 5,671 shares of CarMax stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $73.95, for a total value of $419,370.45. Following the sale, the senior vice president now owns 7,475 shares in the company, valued at $552,776.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 16,000 shares of CarMax stock in a transaction on Friday, September 15th. The shares were sold at an average price of $68.39, for a total transaction of $1,094,240.00. Following the completion of the sale, the director now owns 495,572 shares in the company, valued at approximately $33,892,169.08. The disclosure for this sale can be found here. Insiders sold 617,955 shares of company stock worth $45,664,618 in the last 90 days. Company insiders own 1.70% of the company’s stock.
Several analysts recently weighed in on the stock. UBS AG cut shares of CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. cut shares of CarMax from an “outperform” rating to a “market perform” rating and set a $80.00 price target on the stock. in a report on Thursday, October 5th. CIBC reiterated a “market perform” rating on shares of CarMax in a report on Thursday, October 5th. Berenberg Bank assumed coverage on shares of CarMax in a report on Wednesday, October 4th. They issued a “hold” rating and a $83.00 price target on the stock. Finally, Credit Suisse Group raised their price objective on CarMax from $75.00 to $83.00 and gave the company an “outperform” rating in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.40.
The company has a quick ratio of 0.48, a current ratio of 2.33 and a debt-to-equity ratio of 3.82. The stock has a market cap of $12,860.00, a PE ratio of 19.49, a PEG ratio of 1.19 and a beta of 1.52.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. CarMax’s quarterly revenue was up 9.7% compared to the same quarter last year. sell-side analysts predict that CarMax Inc will post 3.84 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Korea Investment CORP increased its holdings in CarMax by 140.5% in the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after buying an additional 1,033 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in CarMax in the 2nd quarter worth about $112,000. Tredje AP fonden bought a new stake in CarMax in the 3rd quarter worth about $144,000. Seven Eight Capital LP bought a new stake in shares of CarMax during the 2nd quarter valued at about $133,000. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of CarMax by 1.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock valued at $149,000 after purchasing an additional 29 shares during the period.
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CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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