Weiss Asset Management LP Decreases Stock Position in CarMax, Inc. $KMX

Weiss Asset Management LP cut its position in CarMax, Inc. (NYSE:KMX) by 87.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,200 shares of the company’s stock after selling 103,930 shares during the period. Weiss Asset Management LP’s holdings in CarMax were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax in the second quarter valued at about $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax in the second quarter worth about $30,000. Advisory Services Network LLC acquired a new position in CarMax during the third quarter worth about $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in CarMax during the 4th quarter valued at about $33,000.

Analysts Set New Price Targets

A number of research firms have weighed in on KMX. Mizuho raised their target price on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Robert W. Baird increased their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Evercore set a $45.00 target price on CarMax in a report on Friday, April 10th. Finally, Morgan Stanley lifted their price target on CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, CarMax has a consensus rating of “Reduce” and a consensus target price of $49.33.

Insider Activity

In other CarMax news, CEO Keith Barr purchased 9,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the acquisition, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. This trade represents a 39.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sona Chawla acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the transaction, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. The trade was a 10.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 13,900 shares of company stock valued at $735,574 in the last quarter. Insiders own 1.01% of the company’s stock.

CarMax Stock Up 0.1%

Shares of NYSE KMX opened at $58.34 on Tuesday. The company has a market capitalization of $8.28 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.70 and a beta of 1.17. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The company has a 50 day simple moving average of $50.12 and a 200-day simple moving average of $45.34. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $62.56.

CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion for 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 firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, equities research analysts predict that CarMax, Inc. will post 2.7 earnings per share for the current year.

About CarMax

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.