Vanguard Group Inc. Invests $10.73 Million in Carvana Co. (CVNA)
Vanguard Group Inc. acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 524,202 shares of the company’s stock, valued at approximately $10,730,000. Vanguard Group Inc. owned about 3.49% of Carvana at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors bought a new position in Carvana during the 2nd quarter worth approximately $177,000. ClariVest Asset Management LLC bought a new position in Carvana during the 2nd quarter worth approximately $190,000. New York State Common Retirement Fund bought a new position in Carvana during the 2nd quarter worth approximately $332,000. Rhumbline Advisers bought a new position in Carvana during the 2nd quarter worth approximately $392,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Carvana during the 2nd quarter worth approximately $508,000. Hedge funds and other institutional investors own 12.64% of the company’s stock.
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Shares of Carvana Co. (NYSE:CVNA) opened at $15.32 on Thursday. 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 Co. has a fifty-two week low of $8.14 and a fifty-two week high of $23.70.
Carvana (NYSE:CVNA) last released 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 analysts’ expectations of $243.61 million. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. equities analysts predict that Carvana Co. will post -1.19 EPS for the current fiscal year.
Several research firms recently issued reports on CVNA. Robert W. Baird restated a “buy” rating and set a $17.00 price target on shares of Carvana in a research report on Monday. B. Riley reiterated a “sell” rating and issued a $12.00 price objective on shares of Carvana in a report on Wednesday, November 8th. JMP Securities dropped their price objective on Carvana from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Wedbush reiterated a “neutral” rating and issued a $14.00 price objective (down previously from $20.00) on shares of Carvana in a report on Wednesday, November 8th. Finally, BMO Capital Markets dropped their price objective on Carvana from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Carvana presently has a consensus rating of “Buy” and a consensus price target of $19.31.
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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