Riverbridge Partners LLC Has $25.04 Million Position in ACV Auctions Inc. $ACVA

Riverbridge Partners LLC cut its holdings in ACV Auctions Inc. (NYSE:ACVA) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,122,032 shares of the company’s stock after selling 445,402 shares during the quarter. Riverbridge Partners LLC owned about 1.81% of ACV Auctions worth $25,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norden Group LLC bought a new position in shares of ACV Auctions in the 4th quarter worth $90,000. Congress Asset Management Co. grew its stake in shares of ACV Auctions by 2.3% during the fourth quarter. Congress Asset Management Co. now owns 388,658 shares of the company’s stock worth $3,117,000 after purchasing an additional 8,620 shares during the period. SG Americas Securities LLC increased its holdings in ACV Auctions by 85.8% in the fourth quarter. SG Americas Securities LLC now owns 85,543 shares of the company’s stock valued at $686,000 after purchasing an additional 39,493 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in ACV Auctions in the fourth quarter valued at about $167,000. Finally, Tudor Investment Corp ET AL lifted its stake in ACV Auctions by 116.3% in the third quarter. Tudor Investment Corp ET AL now owns 982,558 shares of the company’s stock valued at $9,737,000 after buying an additional 528,390 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ACVA shares. B. Riley Financial decreased their target price on ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 24th. Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. The Goldman Sachs Group lowered their target price on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.45.

Insiders Place Their Bets

In related news, CEO George Chamoun purchased 24,272 shares of ACV Auctions stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the acquisition, the chief executive officer directly owned 2,952,977 shares of the company’s stock, valued at $14,912,533.85. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

ACV Auctions Stock Down 1.5%

Shares of ACV Auctions stock opened at $4.33 on Friday. The company has a market capitalization of $752.85 million, a P/E ratio of -11.38 and a beta of 1.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50-day moving average of $6.31 and a two-hundred day moving average of $7.76. ACV Auctions Inc. has a 1 year low of $4.24 and a 1 year high of $17.54.

ACV Auctions (NYSE:ACVA) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 8.71% and a negative return on equity of 6.17%. The business had revenue of $183.65 million for the quarter, compared to the consensus estimate of $181.96 million. During the same quarter last year, the firm earned ($0.16) EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis.

About ACV Auctions

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.