Norwood Investment Partners LP Makes New Investment in ACV Auctions Inc. $ACVA

Norwood Investment Partners LP bought a new position in shares of ACV Auctions Inc. (NYSE:ACVA) during the fourth quarter, HoldingsChannel reports. The firm bought 485,307 shares of the company’s stock, valued at approximately $3,892,000. ACV Auctions makes up about 4.4% of Norwood Investment Partners LP’s holdings, making the stock its 9th biggest holding.

A number of other large investors also recently bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in ACV Auctions by 21.5% during the 4th quarter. Squarepoint Ops LLC now owns 937,288 shares of the company’s stock worth $7,517,000 after buying an additional 165,844 shares during the last quarter. Verition Fund Management LLC lifted its holdings in ACV Auctions by 34.6% during the 4th quarter. Verition Fund Management LLC now owns 29,881 shares of the company’s stock worth $240,000 after buying an additional 7,681 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of ACV Auctions by 5.5% in the 4th quarter. Panagora Asset Management Inc. now owns 654,665 shares of the company’s stock worth $5,250,000 after purchasing an additional 34,298 shares during the last quarter. Mariner LLC bought a new stake in shares of ACV Auctions in the 4th quarter worth approximately $519,000. Finally, Entropy Technologies LP bought a new stake in shares of ACV Auctions in the 4th quarter worth approximately $460,000. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Down 0.7%

Shares of NYSE ACVA opened at $6.27 on Wednesday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -17.90 and a beta of 1.84. ACV Auctions Inc. has a 12-month low of $4.07 and a 12-month high of $16.83. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $6.44.

Analysts Set New Price Targets

ACVA has been the topic of several recent research reports. Barclays cut their price target on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. B. Riley Financial cut their price target on ACV Auctions from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Citigroup downgraded ACV Auctions from a “buy” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $7.00 in a report on Tuesday, February 24th. Royal Bank Of Canada raised ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Hold” and an average target price of $10.14.

ACV Auctions 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.