Connor Clark & Lunn Investment Management Ltd. Buys 144,283 Shares of ACV Auctions Inc. $ACVA

Connor Clark & Lunn Investment Management Ltd. raised its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 42.6% during the second quarter, HoldingsChannel.com reports. The fund owned 483,306 shares of the company’s stock after purchasing an additional 144,283 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in ACV Auctions were worth $7,839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACVA. Vanguard Group Inc. grew its position in shares of ACV Auctions by 7.4% during the first quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company’s stock valued at $215,594,000 after purchasing an additional 1,055,310 shares in the last quarter. William Blair Investment Management LLC lifted its position in ACV Auctions by 0.3% during the second quarter. William Blair Investment Management LLC now owns 11,109,706 shares of the company’s stock valued at $180,199,000 after purchasing an additional 32,797 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of ACV Auctions by 6.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,084,830 shares of the company’s stock worth $128,005,000 after buying an additional 510,680 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of ACV Auctions by 10.5% during the 1st quarter. Alliancebernstein L.P. now owns 6,214,362 shares of the company’s stock valued at $87,560,000 after buying an additional 592,107 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of ACV Auctions by 2.6% in the 2nd quarter. Jennison Associates LLC now owns 5,571,294 shares of the company’s stock valued at $90,366,000 after acquiring an additional 143,773 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

Insider Activity

In related news, Director Robert P. Goodman purchased 912,408 shares of ACV Auctions stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $5.61 per share, with a total value of $5,118,608.88. Following the transaction, the director owned 912,408 shares in the company, valued at approximately $5,118,608.88. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACVA. Jefferies Financial Group decreased their price target on ACV Auctions from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Citigroup reduced their price objective on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. JMP Securities dropped their target price on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 12th. Stephens decreased their price target on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. Finally, Barrington Research downgraded ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy” and an average target price of $13.95.

ACV Auctions Trading Up 0.1%

NASDAQ:ACVA opened at $5.50 on Thursday. The firm has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $12.97. ACV Auctions Inc. has a one year low of $4.95 and a one year high of $23.46. The firm has a market cap of $946.07 million, a P/E ratio of -11.22 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56.

ACV Auctions (NASDAQ:ACVA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $199.56 million for the quarter, compared to the consensus estimate of $200.26 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.

ACV Auctions Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.