Goodnow Investment Group LLC Has $253.07 Million Position in Carvana Co. $CVNA

by · The Markets Daily

Goodnow Investment Group LLC lowered its holdings in shares of Carvana Co. (NYSE:CVNA – Free Report) by 12.7% during the 2nd quarter, Holdings Channel reports. The fund owned 751,033 shares of the company’s stock after selling 109,520 shares during the period. Carvana makes up approximately 23.6% of Goodnow Investment Group LLC’s portfolio, making the stock its largest holding. Goodnow Investment Group LLC’s holdings in Carvana were worth $253,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CVNA. Los Angeles Capital Management LLC increased its stake in Carvana by 1,950.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after buying an additional 105,768 shares during the period. Berkshire Capital Holdings Inc. boosted its holdings in shares of Carvana by 632,200.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock valued at $13,220,000 after acquiring an additional 63,220 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Carvana in the second quarter valued at approximately $183,102,000. Cresset Asset Management LLC increased its stake in shares of Carvana by 32.2% during the first quarter. Cresset Asset Management LLC now owns 3,347 shares of the company’s stock valued at $700,000 after acquiring an additional 816 shares during the period. Finally, Northern Trust Corp raised its holdings in Carvana by 5.4% during the first quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after purchasing an additional 35,168 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Carvana in a research note on Friday, November 21st. They set a “buy” rating and a $395.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $440.00 target price on shares of Carvana in a research note on Tuesday, September 23rd. Barclays boosted their price target on shares of Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America raised their price objective on shares of Carvana from $385.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Citigroup lifted their price objective on shares of Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $438.76.

Check Out Our Latest Stock Report on Carvana

Carvana Trading Down 3.5%

Shares of CVNA opened at $455.95 on Friday. The business’s 50-day moving average price is $353.83 and its 200 day moving average price is $350.92. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $99.19 billion, a P/E ratio of 104.10, a P/E/G ratio of 1.71 and a beta of 3.51. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $485.33.

Carvana (NYSE:CVNA – Get Free Report) last posted its quarterly earnings data 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 analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $9,500,000.00. Following the completion of the transaction, the chief operating officer owned 100,758 shares of the company’s stock, valued at approximately $47,860,050. This trade represents a 16.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Taira sold 10,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $475.00, for a total transaction of $4,750,000.00. Following the sale, the insider directly owned 69,880 shares in the company, valued at approximately $33,193,000. This trade represents a 12.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 624,332 shares of company stock worth $251,466,542 in the last quarter. Corporate insiders own 17.12% of the company’s stock.

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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