Trexquant Investment LP acquired a new stake in CarMax Inc (NYSE:KMX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,500 shares of the company’s stock, valued at approximately $2,302,000. CarMax accounts for about 0.6% of Trexquant Investment LP’s investment portfolio, making the stock its largest position.
Several other institutional investors also recently added to or reduced their stakes in KMX. BlackRock Inc. increased its position in shares of CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock valued at $656,668,000 after buying an additional 10,752,554 shares during the period. William Blair Investment Management LLC acquired a new position in shares of CarMax during the first quarter valued at approximately $47,370,000. Marathon Asset Management LLP increased its position in shares of CarMax by 68.5% in the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock valued at $47,605,000 after buying an additional 306,901 shares during the period. Morgan Stanley increased its position in shares of CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock valued at $27,019,000 after buying an additional 278,328 shares during the period. Finally, SG Capital Management LLC acquired a new position in shares of CarMax during the second quarter valued at approximately $16,752,000.
CarMax Inc (NYSE KMX) remained flat at $63.97 during mid-day trading on Friday. The stock had a trading volume of 1,230,378 shares. The firm has a market capitalization of $11.72 billion, a P/E ratio of 18.37 and a beta of 1.34. The firm has a 50 day moving average price of $64.93 and a 200 day moving average price of $62.69. CarMax Inc has a 1-year low of $47.50 and a 1-year high of $69.11.
CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities analysts expect that CarMax Inc will post $3.71 EPS for the current year.
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KMX has been the topic of several research analyst reports. Zacks Investment Research raised CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Wedbush upgraded CarMax from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $70.00 in a research note on Thursday, May 18th. CIBC restated a “buy” rating on shares of CarMax in a research note on Tuesday, July 4th. Deutsche Bank AG restated a “buy” rating and set a $73.00 price objective (up from $71.00) on shares of CarMax in a research note on Thursday, June 22nd. Finally, ValuEngine upgraded CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $69.15.
In other news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $66.87, for a total transaction of $573,945.21. Following the transaction, the chief financial officer now owns 70,522 shares in the company, valued at approximately $4,715,806.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mohammad Shamim sold 13,938 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $66.08, for a total transaction of $921,023.04. Following the transaction, the senior vice president now owns 9,218 shares in the company, valued at approximately $609,125.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,515 shares of company stock valued at $12,085,019. Company insiders own 1.70% of the company’s stock.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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