192,200 Shares in ACV Auctions Inc. $ACVA Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new position in shares of ACV Auctions Inc. (NYSE:ACVA) during the 1st quarter, Holdings Channel.com reports. The fund acquired 192,200 shares of the company’s stock, valued at approximately $815,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACVA. Fifth Third Bancorp increased its stake in shares of ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after purchasing an additional 1,421 shares in the last quarter. State of Wisconsin Investment Board boosted its position in shares of ACV Auctions by 3.1% in the 4th quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company’s stock worth $448,000 after purchasing an additional 1,692 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of ACV Auctions by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 30,706 shares of the company’s stock worth $246,000 after purchasing an additional 1,982 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of ACV Auctions by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 19,508 shares of the company’s stock worth $318,000 after buying an additional 2,342 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of ACV Auctions by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 141,512 shares of the company’s stock worth $2,295,000 after buying an additional 2,467 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Up 3.3%

ACV Auctions stock opened at $8.22 on Friday. ACV Auctions Inc. has a 12 month low of $4.07 and a 12 month high of $12.21. The stock has a fifty day simple moving average of $7.15 and a two-hundred day simple moving average of $6.17. The company has a current ratio of 1.52, a quick ratio of 1.47 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -22.84 and a beta of 1.82.

Analyst Ratings Changes

A number of brokerages have issued reports on ACVA. Barclays cut ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a research note on Tuesday. Stephens raised ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 target price on the stock in a research note on Tuesday, August 11th. Citizens Jmp downgraded ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Barrington Research raised ACV Auctions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Bank of America reiterated an “underperform” rating on shares of ACV Auctions in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.35.

ACV Auctions Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.