Renaissance Technologies LLC Acquires New Position in ACV Auctions Inc. $ACVA

Renaissance Technologies LLC bought a new position in ACV Auctions Inc. (NYSE:ACVA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 192,200 shares of the company’s stock, valued at approximately $815,000. Renaissance Technologies LLC owned about 0.11% of ACV Auctions at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Atreides Management LP boosted its stake in shares of ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after purchasing an additional 6,901,010 shares in the last quarter. Wasatch Advisors LP raised its position in ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after purchasing an additional 5,475,874 shares during the period. Sunriver Management LLC purchased a new position in ACV Auctions in the 4th quarter worth $23,768,000. Arvin Capital Management LP lifted its stake in ACV Auctions by 272.8% in the fourth quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock worth $18,421,000 after purchasing an additional 1,680,723 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new stake in ACV Auctions in the third quarter worth $14,502,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Up 3.3%

Shares of NYSE:ACVA opened at $8.22 on Friday. ACV Auctions Inc. has a 52-week low of $4.07 and a 52-week high of $12.21. The firm has a market capitalization of $1.40 billion, a P/E ratio of -22.84 and a beta of 1.82. The stock has a 50 day moving average price of $7.15 and a 200-day moving average price of $6.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 1.52.

Analyst Ratings Changes

ACVA has been the topic of several analyst reports. Barclays downgraded ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a report on Tuesday. Stephens upgraded ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 target price for the company in a report on Tuesday, August 11th. Bank of America restated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday. Barrington Research raised ACV Auctions from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Citizens Jmp downgraded ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.35.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.