Royal London Asset Management Ltd. Raises Stock Position in Carvana Co. $CVNA

Royal London Asset Management Ltd. lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 399.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,849 shares of the company’s stock after acquiring an additional 236,574 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Carvana were worth $19,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after purchasing an additional 31 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in Carvana by 4.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after acquiring an additional 32 shares in the last quarter. Benjamin Edwards Inc. grew its position in Carvana by 6.2% in the fourth quarter. Benjamin Edwards Inc. now owns 586 shares of the company’s stock valued at $247,000 after acquiring an additional 34 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Carvana by 29.8% in the first quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock valued at $58,000 after acquiring an additional 42 shares in the last quarter. Finally, Moors & Cabot Inc. raised its stake in shares of Carvana by 5.7% during the third quarter. Moors & Cabot Inc. now owns 813 shares of the company’s stock valued at $307,000 after purchasing an additional 44 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Price Performance

Shares of CVNA stock opened at $74.24 on Monday. The firm has a market cap of $81.70 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46. 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 1-year low of $54.46 and a 1-year high of $97.38. The firm has a fifty day moving average of $68.10 and a two-hundred day moving average of $68.34.

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

Insider Activity

In other Carvana news, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total value of $1,016,750.00. Following the completion of the transaction, the director owned 214,960 shares of the company’s stock, valued at $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone bought 25,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $61.80 per share, with a total value of $1,545,000.00. Following the purchase, the director owned 168,573 shares of the company’s stock, valued at $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 302,147 shares of company stock valued at $20,418,064 over the last three months. 15.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Citigroup cut their price objective on shares of Carvana from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Barclays cut their price target on Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. DA Davidson set a $67.00 price target on Carvana in a report on Thursday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Carvana in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.14.

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.