109,220 Shares in CarMax, Inc. $KMX Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS bought a new position in CarMax, Inc. (NYSE:KMX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 109,220 shares of the company’s stock, valued at approximately $7,341,000. Kornitzer Capital Management Inc. KS owned about 0.07% of CarMax at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KMX. GAMMA Investing LLC lifted its position in CarMax by 12.6% in the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company’s stock worth $516,000 after buying an additional 742 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in CarMax by 2.4% in the first quarter. Janney Montgomery Scott LLC now owns 16,143 shares of the company’s stock valued at $1,258,000 after purchasing an additional 380 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in CarMax by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,845 shares of the company’s stock valued at $3,494,000 after purchasing an additional 2,050 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in CarMax by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company’s stock valued at $4,726,000 after purchasing an additional 2,078 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in CarMax by 5.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock valued at $262,000 after purchasing an additional 176 shares during the last quarter.

Wall Street Analysts Forecast Growth

KMX has been the subject of several recent research reports. Seaport Res Ptn downgraded CarMax from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 28th. Needham & Company LLC lowered their price objective on CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Evercore ISI reiterated an “in-line” rating and issued a $52.00 price objective (down previously from $80.00) on shares of CarMax in a research report on Friday, September 26th. Royal Bank Of Canada lowered their price objective on CarMax from $81.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Finally, Morgan Stanley lowered their price objective on CarMax from $80.00 to $56.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.75.

CarMax Price Performance

KMX opened at $44.26 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. CarMax, Inc. has a 52-week low of $42.34 and a 52-week high of $91.25. The stock has a market capitalization of $6.50 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27. The stock’s 50 day moving average price is $53.11 and its 200-day moving average price is $60.63.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the firm posted $0.85 earnings per share. CarMax’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities research analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

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.