GAMMA Investing LLC Buys 11,454 Shares of Carvana Co. $CVNA

GAMMA Investing LLC increased its position in Carvana Co. (NYSE:CVNA) by 579.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,431 shares of the company’s stock after acquiring an additional 11,454 shares during the quarter. GAMMA Investing LLC’s holdings in Carvana were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Farmers & Merchants Investments Inc. bought a new position in Carvana in the 4th quarter worth $29,000. Motiv8 Investments LLC purchased a new stake in Carvana in the 4th quarter worth $33,000. Ascentis Independent Advisors bought a new stake in Carvana during the first quarter valued at about $26,000. Salomon & Ludwin LLC raised its holdings in Carvana by 112.5% during the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of Carvana stock opened at $70.83 on Friday. The stock has a market cap of $77.95 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 2.52 and a beta of 3.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The stock has a 50 day moving average price of $66.55 and a 200-day moving average price of $69.82. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.Carvana’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Equities analysts expect that Carvana Co. will post 1.65 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Zacks Research lowered Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 target price on shares of Carvana in a research note on Friday, July 31st. Citizens Jmp lowered their price target on Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. Jefferies Financial Group dropped their price target on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Finally, DA Davidson set a $67.00 price objective on shares of Carvana in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total value of $3,427,500.00. Following the sale, the chief operating officer owned 458,755 shares of the company’s stock, valued at approximately $31,447,655.25. This represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the sale, the chief financial officer directly owned 1,029,580 shares in the company, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 391,372 shares of company stock valued at $26,555,789. Insiders own 15.19% of the company’s stock.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.