Connor Clark & Lunn Investment Management Ltd. Sells 49,813 Shares of Carvana Co. $CVNA

Connor Clark & Lunn Investment Management Ltd. lessened its position in Carvana Co. (NYSE:CVNA) by 26.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 139,738 shares of the company’s stock after selling 49,813 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Carvana worth $52,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC raised its holdings in Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in Carvana during the third quarter valued at $38,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Carvana during the 3rd quarter valued at $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Carvana in the 2nd quarter worth about $38,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after buying an additional 30 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Down 5.4%

Shares of Carvana stock opened at $292.70 on Friday. The company has a 50-day simple moving average of $390.27 and a two-hundred day simple moving average of $379.11. The stock has a market capitalization of $64.06 billion, a PE ratio of 36.41 and a beta of 3.60. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 58.0% on a year-over-year basis. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

CVNA has been the subject of a number of recent research reports. UBS Group set a $485.00 price target on shares of Carvana in a research report on Friday, February 20th. Gordon Haskett decreased their target price on shares of Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Evercore lowered their target price on shares of Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Stephens reissued an “overweight” rating and issued a $519.00 price target on shares of Carvana in a research report on Thursday, February 19th. Finally, Barclays reduced their price objective on Carvana from $530.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $440.59.

Insider Buying and Selling at Carvana

In other news, Director J Danforth Quayle sold 2,900 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $309.97, for a total transaction of $898,913.00. Following the transaction, the director directly owned 41,913 shares of the company’s stock, valued at $12,991,772.61. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $393.04, for a total value of $393,040.00. Following the transaction, the vice president directly owned 37,192 shares in the company, valued at approximately $14,617,943.68. The trade was a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,574 shares of company stock worth $21,463,735. Insiders own 17.12% of the company’s stock.

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.