Moore Capital Management LP Acquires 126,417 Shares of Carvana Co. (NYSE:CVNA)

Moore Capital Management LP grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 94.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 260,956 shares of the company’s stock after buying an additional 126,417 shares during the period. Carvana comprises about 0.6% of Moore Capital Management LP’s investment portfolio, making the stock its 24th biggest position. Moore Capital Management LP’s holdings in Carvana were worth $53,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Quent Capital LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% in the fourth 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 bought a new stake in shares of Carvana during the 4th quarter valued at $31,000. Venturi Wealth Management LLC boosted its holdings in shares of Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 99 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Carvana during the 4th quarter valued at $48,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of NYSE CVNA opened at $268.27 on Monday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market capitalization of $57.19 billion, a PE ratio of 170.87 and a beta of 3.61. The company’s fifty day moving average price is $209.94 and its 200 day moving average price is $227.40. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $293.62.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company’s revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. On average, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, insider Thomas Taira sold 5,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $260.00, for a total value of $1,300,000.00. Following the sale, the insider now directly owns 171,509 shares in the company, valued at $44,592,340. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 347,198 shares of company stock worth $73,438,671. 17.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday. Stephens reiterated an “overweight” rating and set a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Evercore ISI decreased their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. JMP Securities cut their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Bank of America raised their price target on Carvana from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $268.59.

Carvana 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.