ACV Auctions (NYSE:ACVA) Cut to “Market Perform” at Citizens Jmp

Citizens Jmp downgraded shares of ACV Auctions (NYSE:ACVA) from an outperform rating to a market perform rating in a research note published on Tuesday morning, Marketbeat Ratings reports.

Several other brokerages have also recently weighed in on ACVA. Bank of America restated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday. Barrington Research raised shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Stephens raised shares of ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings upgraded shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Finally, Barclays cut shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.35.

ACV Auctions Stock Up 3.0%

Shares of ACVA opened at $7.99 on Tuesday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -22.19 and a beta of 1.82. ACV Auctions has a 1 year low of $4.07 and a 1 year high of $12.21. The business’s 50 day simple moving average is $7.10 and its 200-day simple moving average is $6.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACVA. Fifth Third Bancorp increased its position in ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after acquiring an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of ACV Auctions by 2,573.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock worth $30,000 after acquiring an additional 3,629 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of ACV Auctions by 38,076.9% in the 4th quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock worth $40,000 after acquiring an additional 4,950 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of ACV Auctions by 12,979.5% during the 4th quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock worth $46,000 after purchasing an additional 5,711 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of ACV Auctions by 28.8% during the 2nd quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock worth $44,000 after purchasing an additional 1,382 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.