Mackenzie Financial Corp Acquires 2,946 Shares of Carvana Co. $CVNA

Mackenzie Financial Corp grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 41.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,045 shares of the company’s stock after purchasing an additional 2,946 shares during the quarter. Mackenzie Financial Corp’s holdings in Carvana were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hilltop National Bank acquired a new position in Carvana during the second quarter worth $25,000. Brooklyn Investment Group boosted its stake in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Carvana during the 2nd quarter valued at about $42,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Carvana in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of recent analyst reports. Bank of America decreased their target price on Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Morgan Stanley set a $450.00 target price on shares of Carvana in a research note on Monday, October 20th. Citigroup cut their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, DA Davidson set a $360.00 price target on shares of Carvana in a report on Thursday, October 30th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $422.10.

Carvana Price Performance

NYSE:CVNA opened at $399.10 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a fifty day moving average price of $345.91 and a 200 day moving average price of $344.74. The stock has a market cap of $86.82 billion, a P/E ratio of 91.12, a PEG ratio of 1.43 and a beta of 3.51.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 32,370 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $301.68, for a total value of $9,765,381.60. Following the completion of the sale, the insider owned 115,456 shares in the company, valued at approximately $34,830,766.08. This trade represents a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Maroone sold 30,928 shares of Carvana stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the sale, the director directly owned 143,573 shares in the company, valued at $57,478,014.82. The trade was a 17.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 432,380 shares of company stock valued at $160,355,855. Corporate insiders own 17.12% of the company’s stock.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.