Goodnow Investment Group LLC Raises Holdings in Carvana Co. $CVNA

Goodnow Investment Group LLC increased its position in Carvana Co. (NYSE:CVNA) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 710,091 shares of the company’s stock after purchasing an additional 58,828 shares during the period. Carvana makes up 28.0% of Goodnow Investment Group LLC’s investment portfolio, making the stock its largest holding. Goodnow Investment Group LLC’s holdings in Carvana were worth $299,673,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVNA. Royal Bank of Canada lifted its holdings in shares of Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Carvana by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,226 shares in the last quarter. AXA S.A. lifted its holdings in shares of Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after purchasing an additional 825 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $70.39, for a total transaction of $3,519,500.00. Following the completion of the sale, the chief operating officer owned 515,769 shares in the company, valued at $36,304,979.91. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $70.42, for a total transaction of $352,100.00. Following the sale, the vice president owned 152,955 shares of the company’s stock, valued at approximately $10,771,091.10. The trade was a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 400,812 shares of company stock worth $28,039,446 over the last 90 days. Corporate insiders own 15.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wedbush cut their target price on Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Jefferies Financial Group dropped their price objective on Carvana from $97.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Citigroup restated an “outperform” rating on shares of Carvana in a research note on Friday, May 1st. BTIG Research restated a “buy” rating and set a $97.00 price objective on shares of Carvana in a research note on Friday, June 5th. Finally, Weiss Ratings cut Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Carvana Price Performance

Shares of NYSE:CVNA opened at $68.81 on Tuesday. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $71.33 and its two-hundred day simple moving average is $75.25. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The stock has a market cap of $75.48 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 10.82 and a beta of 3.45.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. As a group, analysts forecast that Carvana Co. will post 1.58 EPS for the current fiscal year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.