Marex Group plc Takes $4.82 Million Position in Carvana Co. $CVNA

by · The Cerbat Gem

Marex Group plc bought a new position in Carvana Co. (NYSE:CVNA – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,317 shares of the company’s stock, valued at approximately $4,824,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD raised its holdings in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of Carvana by 1,374.3% in the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock valued at $303,677,000 after purchasing an additional 840,096 shares in the last quarter. Norges Bank bought a new stake in Carvana in the second quarter worth $259,468,000. Massachusetts Financial Services Co. MA purchased a new stake in Carvana during the second quarter valued at $193,091,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Carvana during the second quarter valued at $183,102,000. 56.71% of the stock is owned by institutional investors.

Carvana Trading Down 3.5%

Shares of NYSE CVNA opened at $455.95 on Friday. 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 business’s 50 day moving average price is $353.83 and its 200-day moving average price is $351.18. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $485.33. The company has a market cap of $99.19 billion, a price-to-earnings ratio of 104.10, a PEG ratio of 1.65 and a beta of 3.51.

Carvana (NYSE:CVNA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (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 analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, insider Thomas Taira sold 10,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $4,750,000.00. Following the transaction, the insider directly owned 69,880 shares in the company, valued at approximately $33,193,000. This represents a 12.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 40,000 shares of Carvana stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the sale, the insider owned 191,106 shares of the company’s stock, valued at $90,821,215.44. The trade was a 17.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 624,332 shares of company stock valued at $251,466,542. Insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Morgan Stanley set a $450.00 target price on shares of Carvana in a report on Monday, October 20th. Jefferies Financial Group boosted their price objective on Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.76.

Get Our Latest Stock Analysis on CVNA

Carvana Company Profile

(Free Report)

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.

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