MMCAP International Inc. SPC Purchases 41,155 Shares of CarMax, Inc. $KMX

MMCAP International Inc. SPC increased its position in shares of CarMax, Inc. (NYSE:KMX) by 263.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,770 shares of the company’s stock after purchasing an additional 41,155 shares during the quarter. MMCAP International Inc. SPC’s holdings in CarMax were worth $2,547,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KMX. Raiffeisen Bank International AG increased its holdings in CarMax by 15.5% during the third quarter. Raiffeisen Bank International AG now owns 17,636 shares of the company’s stock worth $791,000 after buying an additional 2,372 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of CarMax by 26.3% in the 3rd quarter. King Luther Capital Management Corp now owns 72,217 shares of the company’s stock worth $3,240,000 after purchasing an additional 15,048 shares during the period. Synovus Financial Corp bought a new stake in shares of CarMax in the 3rd quarter worth approximately $2,329,000. NEOS Investment Management LLC lifted its stake in CarMax by 46.3% in the third quarter. NEOS Investment Management LLC now owns 13,334 shares of the company’s stock valued at $598,000 after purchasing an additional 4,218 shares during the last quarter. Finally, Rothschild Investment LLC grew its holdings in CarMax by 4,769.1% during the third quarter. Rothschild Investment LLC now owns 5,356 shares of the company’s stock valued at $240,000 after purchasing an additional 5,246 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KMX. Benchmark restated a “hold” rating on shares of CarMax in a research note on Tuesday, December 16th. Evercore set a $42.00 price objective on CarMax in a report on Tuesday, February 10th. Truist Financial boosted their price objective on CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Barclays increased their target price on shares of CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Finally, Mizuho reduced their target price on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, CarMax currently has a consensus rating of “Reduce” and a consensus target price of $39.21.

CarMax Stock Down 0.2%

KMX stock opened at $44.49 on Monday. The stock has a 50-day simple moving average of $43.51 and a two-hundred day simple moving average of $46.15. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $86.38. The firm has a market capitalization of $6.31 billion, a PE ratio of 14.68, a PEG ratio of 1.06 and a beta of 1.35. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The firm had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. On average, equities analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.