M&G PLC Purchases Shares of 34,995 Carvana Co. $CVNA

M&G PLC acquired a new position in Carvana Co. (NYSE:CVNA) in the second quarter, Holdings Channel.com reports. The firm acquired 34,995 shares of the company’s stock, valued at approximately $11,793,000.

Other institutional investors have also recently modified their holdings of the company. Hilltop National Bank bought a new stake in Carvana in the 2nd quarter worth approximately $25,000. Brooklyn Investment Group grew its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana during the first quarter worth approximately $33,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Carvana in the 2nd quarter valued at $42,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Up 0.3%

CVNA stock opened at $327.74 on Thursday. The business’s 50 day moving average price is $354.03 and its two-hundred day moving average price is $336.56. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company has a market capitalization of $71.30 billion, a price-to-earnings ratio of 74.83, a price-to-earnings-growth ratio of 1.18 and a beta of 3.50. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. As a group, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $338.27, for a total value of $3,382,700.00. Following the completion of the transaction, the chief executive officer directly owned 516,440 shares of the company’s stock, valued at approximately $174,696,158.80. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira J. Platt sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the transaction, the director owned 7,231 shares in the company, valued at approximately $2,741,561.34. This represents a 65.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 436,452 shares of company stock worth $158,184,083 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVNA. Stephens reiterated an “overweight” rating and issued a $440.00 target price on shares of Carvana in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their price target on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Needham & Company LLC restated a “buy” rating and issued a $500.00 target price on shares of Carvana in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a report on Tuesday. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $460.00 price target on shares of Carvana in a research report on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $414.16.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.