Fox Run Management L.L.C. Acquires New Stake in Carvana Co. $CVNA

Fox Run Management L.L.C. bought a new position in Carvana Co. (NYSE:CVNA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,180 shares of the company’s stock, valued at approximately $822,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC boosted its position in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the period. Washington Trust Advisors Inc. bought a new stake in Carvana in the 3rd quarter valued at approximately $38,000. Steigerwald Gordon & Koch Inc. acquired a new position in Carvana during the 3rd quarter worth approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Carvana during the 2nd quarter worth approximately $38,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

Shares of NYSE CVNA opened at $354.03 on Friday. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average price is $413.48 and its two-hundred day moving average price is $381.08. The company has a market cap of $77.02 billion, a PE ratio of 44.03 and a beta of 3.57. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $486.89.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping the consensus estimate of $1.10 by $3.12. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The firm’s revenue for the quarter was up 58.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. On average, analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Activity

In related news, COO Benjamin E. Huston sold 40,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $17,580,000.00. Following the transaction, the chief operating officer owned 100,758 shares in the company, valued at approximately $44,283,141. This represents a 28.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Maroone sold 30,928 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total value of $12,381,715.52. Following the completion of the transaction, 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. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 390,351 shares of company stock valued at $168,588,549. 17.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Carvana from $600.00 to $519.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. BTIG Research decreased their price objective on Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Stephens reiterated an “overweight” rating and set a $519.00 target price on shares of Carvana in a report on Thursday, February 19th. Argus initiated coverage on Carvana in a research report on Monday, December 15th. They set a “buy” rating and a $500.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research report on Monday. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $440.59.

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.