Seven Bridges Advisors LLC Has $1,990,000 Stake in CarMax Inc. (KMX)
Seven Bridges Advisors LLC increased its position in CarMax Inc. (NYSE:KMX) by 19.0% during the second quarter, Holdings Channel reports. The institutional investor owned 40,592 shares of the company’s stock after buying an additional 6,478 shares during the period. CarMax accounts for approximately 1.7% of Seven Bridges Advisors LLC’s investment portfolio, making the stock its 11th largest position. Seven Bridges Advisors LLC’s holdings in CarMax were worth $1,990,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock worth $133,000 after buying an additional 900 shares in the last quarter. IFP Advisors Inc boosted its position in CarMax by 9.8% in the first quarter. IFP Advisors Inc now owns 2,820 shares of the company’s stock worth $144,000 after buying an additional 251 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in CarMax by 32.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,295 shares of the company’s stock worth $169,000 after buying an additional 799 shares in the last quarter. ING Groep NV bought a new position in CarMax during the first quarter worth $229,000. Finally, Silvercrest Asset Management Group LLC bought a new position in CarMax during the first quarter worth $237,000.
Shares of CarMax Inc. (NYSE:KMX) traded up 0.14% on Monday, reaching $56.58. The company had a trading volume of 4,379,121 shares. The company has a 50-day moving average price of $58.41 and a 200-day moving average price of $53.53. The firm has a market cap of $10.83 billion, a P/E ratio of 18.49 and a beta of 1.46. CarMax Inc. has a one year low of $41.25 and a one year high of $60.81.
A number of equities analysts have weighed in on the company. Wedbush restated a “neutral” rating and issued a $44.00 price target on shares of CarMax in a report on Wednesday, July 20th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of CarMax in a research note on Wednesday, June 22nd. Robert W. Baird increased their target price on CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, September 7th. Buckingham Research cut CarMax from a “buy” rating to a “neutral” rating and increased their target price for the company from $59.00 to $63.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Finally, Susquehanna began coverage on CarMax in a research note on Thursday, August 25th. They set a “positive” rating and a $70.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. CarMax has an average rating of “Hold” and a consensus price target of $62.47.
In related news, EVP Edwin J. Hill sold 51,875 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $57.59, for a total value of $2,987,481.25. Following the sale, the executive vice president now owns 36,943 shares of the company’s stock, valued at approximately $2,127,547.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eric M. Margolin sold 2,000 shares of the business’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $50.75, for a total value of $101,500.00. Following the completion of the sale, the executive vice president now directly owns 34,303 shares in the company, valued at approximately $1,740,877.25. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
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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