Global Endowment Management LP Reduces Stake in Carvana Co. (NYSE:CVNA)

Global Endowment Management LP cut its position in shares of Carvana Co. (NYSE:CVNA) by 96.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,419 shares of the company’s stock after selling 173,602 shares during the quarter. Global Endowment Management LP’s holdings in Carvana were worth $1,305,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC acquired a new position in shares of Carvana during the 4th quarter worth $28,000. Global Retirement Partners LLC increased its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana during the fourth quarter worth about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the fourth quarter valued at about $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana in the fourth quarter valued at approximately $42,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Robert W. Baird cut their price target on Carvana from $250.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 4th. Wells Fargo & Company decreased their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Citigroup cut their target price on shares of Carvana from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.59.

Carvana Price Performance

CVNA stock opened at $209.17 on Thursday. The stock has a 50-day moving average price of $213.10 and a two-hundred day moving average price of $220.69. The company has a market cap of $44.59 billion, a PE ratio of 133.23 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock valued at $69,243,820 over the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.