Graham Capital Management L.P. Acquires Shares of 12,204 CarMax, Inc. (NYSE:KMX)

Graham Capital Management L.P. acquired a new stake in CarMax, Inc. (NYSE:KMX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,204 shares of the company’s stock, valued at approximately $998,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KMX. Cromwell Holdings LLC grew its holdings in CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP grew its holdings in CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares in the last quarter. Colonial Trust Co SC grew its holdings in CarMax by 2,310.0% in the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock valued at $59,000 after buying an additional 693 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in CarMax by 91.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company’s stock valued at $82,000 after buying an additional 480 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in CarMax in the 4th quarter valued at $85,000.

Insider Transactions at CarMax

In other news, Director Mitchell D. Steenrod purchased 1,300 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the purchase, the director now owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Robert W. Baird reduced their target price on CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Finally, Cfra Research raised CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax has an average rating of “Hold” and an average target price of $87.73.

CarMax Trading Up 0.8%

Shares of CarMax stock opened at $69.58 on Wednesday. The firm has a market capitalization of $10.62 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The firm’s 50 day moving average is $70.46 and its 200 day moving average is $77.95. CarMax, Inc. has a 1 year low of $61.67 and a 1 year high of $91.25.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.