CarMax, Inc (KMX) Shares Sold by QVT Financial LP
QVT Financial LP trimmed its position in CarMax, Inc (NYSE:KMX) by 40.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,253 shares of the company’s stock after selling 101,900 shares during the quarter. CarMax makes up approximately 0.5% of QVT Financial LP’s holdings, making the stock its 23rd largest position. QVT Financial LP’s holdings in CarMax were worth $9,700,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. OppenheimerFunds Inc. boosted its position in CarMax by 11,777.3% during the 4th quarter. OppenheimerFunds Inc. now owns 3,854,895 shares of the company’s stock valued at $247,214,000 after purchasing an additional 3,822,439 shares during the period. Mar Vista Investment Partners LLC acquired a new position in CarMax during the 4th quarter valued at approximately $38,803,000. Sirios Capital Management L P boosted its position in CarMax by 81.5% during the 4th quarter. Sirios Capital Management L P now owns 1,216,018 shares of the company’s stock valued at $77,983,000 after purchasing an additional 546,024 shares during the period. Calamos Advisors LLC boosted its position in CarMax by 851.9% during the 4th quarter. Calamos Advisors LLC now owns 517,649 shares of the company’s stock valued at $33,197,000 after purchasing an additional 463,268 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in CarMax during the 4th quarter valued at approximately $24,791,000. Institutional investors and hedge funds own 99.91% of the company’s stock.
CarMax, Inc (NYSE KMX) opened at $62.43 on Friday. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.51 and a current ratio of 2.70. CarMax, Inc has a 12-month low of $54.29 and a 12-month high of $77.64. The stock has a market capitalization of $11,290.34, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.95 and a beta of 1.61.
A number of research firms recently issued reports on KMX. Wedbush restated an “outperform” rating and set a $81.00 price objective on shares of CarMax in a research report on Wednesday, January 10th. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Wednesday, November 22nd. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Susquehanna Bancshares set a $68.00 price objective on CarMax and gave the company a “hold” rating in a research report on Monday, January 1st. Finally, TheStreet lowered CarMax from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $79.68.
In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $67.50, for a total transaction of $540,000.00. Following the completion of the transaction, the director now owns 439,572 shares in the company, valued at approximately $29,671,110. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric M. Margolin sold 20,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $71.78, for a total value of $1,435,600.00. Following the completion of the sale, the executive vice president now owns 41,051 shares of the company’s stock, valued at approximately $2,946,640.78. The disclosure for this sale can be found here. Insiders have sold a total of 66,584 shares of company stock valued at $4,605,664 in the last quarter. 1.70% of the stock is currently owned by insiders.
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CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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