Valmark Advisers Inc. Invests $1.78 Million in Carvana Co. $CVNA

Valmark Advisers Inc. acquired a new position in Carvana Co. (NYSE:CVNA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,291 shares of the company’s stock, valued at approximately $1,783,000.

A number of other hedge funds have also recently made changes to their positions in the business. Hilltop National Bank purchased a new position in shares of Carvana in the second quarter worth $25,000. Brooklyn Investment Group increased its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana in the first quarter worth $33,000. SJS Investment Consulting Inc. increased its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after buying an additional 181 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Performance

Shares of CVNA stock opened at $360.80 on Thursday. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company’s 50-day moving average is $366.54 and its 200 day moving average is $312.80. The company has a market capitalization of $77.64 billion, a price-to-earnings ratio of 90.43, a price-to-earnings-growth ratio of 1.21 and a beta of 3.55. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm posted ($0.05) EPS. Carvana’s revenue for the quarter was up 41.9% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVNA shares. Bank of America boosted their price objective on shares of Carvana from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. DA Davidson boosted their price objective on shares of Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carvana in a research report on Saturday, September 27th. Finally, JMP Securities upped their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $404.94.

Insider Activity at Carvana

In related news, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $370.34, for a total transaction of $3,703,400.00. Following the sale, the chief executive officer directly owned 356,440 shares of the company’s stock, valued at approximately $132,003,989.60. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total transaction of $4,963,192.50. Following the sale, the chief financial officer directly owned 207,362 shares in the company, valued at $80,719,805.74. This trade represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,099,966 shares of company stock worth $755,642,066 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

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.