Moore Capital Management LP Has $5.67 Million Holdings in Carvana Co. $CVNA

Moore Capital Management LP increased its position in shares of Carvana Co. (NYSE:CVNA) by 6,806.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,187 shares of the company’s stock after buying an additional 84,939 shares during the period. Moore Capital Management LP’s holdings in Carvana were worth $5,673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after acquiring an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after acquiring an additional 181 shares in the last quarter. Cerity Partners LLC increased its stake in Carvana by 28.8% in the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after purchasing an additional 1,226 shares in the last quarter. AXA S.A. increased its stake in Carvana by 340.7% in the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock valued at $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Carvana by 9.1% during the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after purchasing an additional 825 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVNA shares. Barclays cut their price objective on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. DA Davidson set a $67.00 price target on Carvana in a report on Thursday, July 30th. Argus reduced their price objective on Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Morgan Stanley set a $90.00 price objective on Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Robert W. Baird set a $72.00 target price on Carvana in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.14.

Carvana Trading Up 0.3%

NYSE:CVNA opened at $74.24 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a market cap of $81.70 billion, a PE ratio of 41.06, a PEG ratio of 2.69 and a beta of 3.46. The firm has a 50-day moving average of $68.10 and a 200-day moving average of $68.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 EPS. As a group, equities research analysts expect that Carvana Co. will post 1.68 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at $14,078,485. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $64.49, for a total transaction of $322,450.00. Following the completion of the sale, the vice president directly owned 136,909 shares of the company’s stock, valued at $8,829,261.41. The trade was a 3.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 302,147 shares of company stock valued at $20,418,064. Corporate insiders own 15.19% of the company’s stock.

Carvana Company Profile

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.