CAS Investment Partners LLC Cuts Stock Position in Carvana Co. (NYSE:CVNA)

by · The Markets Daily

CAS Investment Partners LLC decreased its position in shares of Carvana Co. (NYSE:CVNA – Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,377,797 shares of the company’s stock after selling 75,797 shares during the period. Carvana comprises about 75.5% of CAS Investment Partners LLC’s holdings, making the stock its largest holding. CAS Investment Partners LLC owned about 3.07% of Carvana worth $1,296,989,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVNA. Wilmington Savings Fund Society FSB bought a new position in Carvana in the third quarter worth $241,000. Versant Capital Management Inc purchased a new stake in shares of Carvana in the 4th quarter worth about $42,000. GAMMA Investing LLC increased its stake in shares of Carvana by 28.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $159,000 after acquiring an additional 176 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Carvana during the 4th quarter valued at about $573,000. Finally, Nordea Investment Management AB bought a new stake in Carvana during the fourth quarter worth about $1,743,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA opened at $257.19 on Monday. 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 Co. has a 12-month low of $97.55 and a 12-month high of $292.84. The firm has a market capitalization of $54.82 billion, a price-to-earnings ratio of 163.82 and a beta of 3.61. The firm has a 50 day moving average of $205.81 and a 200 day moving average of $224.93.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 14th. Citigroup reduced their price objective on Carvana from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird reduced their price target on Carvana from $250.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 4th. Finally, Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.76.

Read Our Latest Analysis on Carvana

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,810 shares of company stock valued at $66,742,620 over the last quarter. 17.12% of the stock is currently owned by company insiders.

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.

See Also

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