Wolverine Asset Management LLC Has $2.06 Million Stock Position in Carvana Co. $CVNA

Wolverine Asset Management LLC reduced its position in shares of Carvana Co. (NYSE:CVNA) by 26.5% in the 2nd quarter, Holdings Channel reports. The firm owned 6,100 shares of the company’s stock after selling 2,200 shares during the period. Wolverine Asset Management LLC’s holdings in Carvana were worth $2,055,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Simon Quick Advisors LLC increased its holdings in shares of Carvana by 20.7% during the second quarter. Simon Quick Advisors LLC now owns 1,484 shares of the company’s stock worth $500,000 after buying an additional 255 shares in the last quarter. Strs Ohio increased its holdings in shares of Carvana by 387.6% during the second quarter. Strs Ohio now owns 19,878 shares of the company’s stock worth $6,698,000 after buying an additional 15,801 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Carvana by 52.4% during the second quarter. Amalgamated Bank now owns 9,660 shares of the company’s stock worth $3,255,000 after buying an additional 3,323 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Carvana during the second quarter worth $744,000. Finally, Assetmark Inc. increased its holdings in shares of Carvana by 458.2% during the second quarter. Assetmark Inc. now owns 441 shares of the company’s stock worth $149,000 after buying an additional 362 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA opened at $307.15 on Friday. The company has a current ratio of 4.05, a quick ratio of 2.58 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $66.10 billion, a P/E ratio of 70.13, a price-to-earnings-growth ratio of 0.98 and a beta of 3.55. The firm’s fifty day simple moving average is $362.58 and its two-hundred day simple moving average is $330.20. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33.

Carvana (NYSE:CVNA) last issued its quarterly 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 firm 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 revenue was up 54.5% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. As a group, analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $450.00 price target on shares of Carvana in a report on Thursday. Stephens reiterated an “overweight” rating and set a $440.00 price target on shares of Carvana in a report on Tuesday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Morgan Stanley set a $450.00 price objective on shares of Carvana in a research note on Monday, October 20th. Finally, DA Davidson set a $360.00 price objective on Carvana in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $418.00.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the sale, the insider owned 81,716 shares of the company’s stock, valued at approximately $32,522,968. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total transaction of $390,140.00. Following the sale, the vice president directly owned 43,513 shares in the company, valued at $16,976,161.82. This trade represents a 2.25% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 939,855 shares of company stock valued at $338,492,060. 17.12% of the stock is owned by corporate insiders.

About Carvana

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.