CarMax, Inc. $KMX Shares Sold by Weiss Asset Management LP

Weiss Asset Management LP lessened its position in CarMax, Inc. (NYSE:KMX) by 87.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,200 shares of the company’s stock after selling 103,930 shares during the quarter. Weiss Asset Management LP’s holdings in CarMax were worth $632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KMX. Freestone Capital Holdings LLC purchased a new position in shares of CarMax in the fourth quarter valued at approximately $968,000. SG Americas Securities LLC grew its holdings in shares of CarMax by 324.3% in the fourth quarter. SG Americas Securities LLC now owns 177,754 shares of the company’s stock valued at $6,868,000 after purchasing an additional 135,858 shares in the last quarter. Bessemer Group Inc. increased its stake in CarMax by 28.1% during the 1st quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock worth $6,491,000 after buying an additional 34,211 shares during the period. HF Advisory Group LLC increased its stake in CarMax by 347.7% during the 4th quarter. HF Advisory Group LLC now owns 162,544 shares of the company’s stock worth $6,281,000 after buying an additional 126,236 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in CarMax during the 1st quarter worth approximately $1,688,000.

Insider Transactions at CarMax

In other CarMax news, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the purchase, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter J. Bensen purchased 2,500 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 13,900 shares of company stock valued at $735,574. Insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho raised their price target on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. upped their price objective on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, June 18th. Benchmark reiterated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Argus upgraded CarMax to a “hold” rating in a report on Thursday, April 16th. Finally, Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Reduce” and a consensus price target of $49.33.

CarMax Stock Up 0.1%

Shares of CarMax stock opened at $58.34 on Tuesday. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $62.56. The company has a 50 day moving average of $50.12 and a 200 day moving average of $45.34. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $8.28 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.70 and a beta of 1.17.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts forecast that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

CarMax Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.