Mariner LLC Lowers Position in Carvana Co. (NYSE:CVNA)

by · The Cerbat Gem

Mariner LLC lessened its holdings in shares of Carvana Co. (NYSE:CVNA – Free Report) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,910 shares of the company’s stock after selling 360 shares during the period. Mariner LLC’s holdings in Carvana were worth $1,812,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVNA. Quent Capital LLC bought a new stake in Carvana in the fourth quarter worth $28,000. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the 4th quarter valued at about $31,000. ORG Wealth Partners LLC bought a new stake in Carvana during the 4th quarter valued at about $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana during the 4th quarter valued at about $42,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CVNA. DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Wells Fargo & Company decreased their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.88.

Get Our Latest Stock Analysis on CVNA

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 43,433 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the transaction, the chief financial officer now directly owns 214,678 shares in the company, valued at $44,925,665.06. This represents a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 330,810 shares of company stock worth $69,243,820. Corporate insiders own 17.12% of the company’s stock.

Carvana Trading Up 6.2 %

Shares of NYSE:CVNA opened at $234.67 on Friday. The stock has a 50 day moving average of $205.78 and a 200 day moving average of $222.22. The company has a market cap of $50.02 billion, a PE ratio of 149.47 and a beta of 3.61. Carvana Co. has a 12-month low of $71.39 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA – Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

About Carvana

(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.

Featured Stories

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNA – Free Report).