Carvana Sees Unusually High Options Volume (CVNA)
Carvana Co. (NYSE:CVNA) was the target of unusually large options trading on Wednesday. Traders bought 3,275 call options on the company. This represents an increase of Infinity compared to the typical volume of 0 call options.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abrams Bison Investments LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $51,175,000. FMR LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $26,992,000. Sylebra HK Co Ltd raised its holdings in shares of Carvana by 184.4% during the third quarter. Sylebra HK Co Ltd now owns 1,302,420 shares of the company’s stock valued at $19,120,000 after buying an additional 844,516 shares during the last quarter. Goodnow Investment Group LLC raised its holdings in shares of Carvana by 45.0% during the third quarter. Goodnow Investment Group LLC now owns 829,142 shares of the company’s stock valued at $12,172,000 after buying an additional 257,297 shares during the last quarter. Finally, Royal Bank of Canada bought a new stake in shares of Carvana during the second quarter valued at approximately $15,354,000. 12.64% of the stock is currently owned by institutional investors.
Carvana (NYSE:CVNA) opened at $15.50 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.50 and a debt-to-equity ratio of 0.07. Carvana has a 52 week low of $8.14 and a 52 week high of $23.70.
Carvana (NYSE:CVNA) last issued its earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.01. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $243.61 million. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. analysts anticipate that Carvana will post -1.19 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. JMP Securities decreased their price target on Carvana from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. B. Riley reiterated a “sell” rating and issued a $12.00 price target on shares of Carvana in a research note on Wednesday, November 8th. Robert W. Baird reiterated an “outperform” rating and issued a $22.00 price target on shares of Carvana in a research note on Thursday, September 7th. Wedbush reiterated a “neutral” rating and issued a $14.00 price target (down from $20.00) on shares of Carvana in a research note on Wednesday, November 8th. Finally, BMO Capital Markets decreased their price target on Carvana from $25.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.31.
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Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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