Quantbot Technologies LP Purchases New Stake in CarMax, Inc. $KMX

Quantbot Technologies LP purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,314 shares of the company’s stock, valued at approximately $598,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SRS Investment Management LLC lifted its stake in shares of CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after buying an additional 5,327,603 shares during the last quarter. AQR Capital Management LLC raised its holdings in CarMax by 151.8% in the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after acquiring an additional 4,780,903 shares during the period. Norges Bank bought a new position in CarMax in the 4th quarter valued at about $159,232,000. Arrowstreet Capital Limited Partnership lifted its position in CarMax by 73.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after acquiring an additional 1,494,205 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of CarMax during the first quarter worth approximately $48,634,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Bank of America upped their price objective on CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, June 17th. Zacks Research upgraded CarMax from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Truist Financial lifted their target price on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Finally, Morgan Stanley boosted their target price on shares of CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

Insider Transactions at CarMax

In other CarMax news, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $53.01 per share, with a total value of $498,294.00. Following the completion of the purchase, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This represents a 39.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the acquisition, the director directly owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 13,900 shares of company stock valued at $735,574. Corporate insiders own 1.01% of the company’s stock.

CarMax Stock Performance

NYSE KMX opened at $62.79 on Friday. The firm’s 50 day simple moving average is $56.62 and its 200 day simple moving average is $47.48. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 2.92 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $65.28.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. As a group, research analysts expect that CarMax, Inc. will post 2.73 earnings per share 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.