Next Capital Management LLC Takes $260,000 Position in ACV Auctions Inc. $ACVA

Next Capital Management LLC bought a new position in shares of ACV Auctions Inc. (NASDAQ:ACVA) in the second quarter, Holdings Channel.com reports. The institutional investor bought 16,006 shares of the company’s stock, valued at approximately $260,000.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in ACV Auctions by 2.1% during the 2nd quarter. Brighton Jones LLC now owns 40,703 shares of the company’s stock worth $660,000 after buying an additional 823 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of ACV Auctions by 6.4% in the second quarter. Verdence Capital Advisors LLC now owns 15,845 shares of the company’s stock worth $257,000 after acquiring an additional 960 shares during the period. Bank of Montreal Can raised its holdings in shares of ACV Auctions by 13.8% during the second quarter. Bank of Montreal Can now owns 14,384 shares of the company’s stock worth $233,000 after purchasing an additional 1,746 shares during the last quarter. CWM LLC lifted its position in ACV Auctions by 77.4% during the second quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after purchasing an additional 2,026 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in ACV Auctions by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 24,534 shares of the company’s stock valued at $398,000 after purchasing an additional 2,146 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ACVA. Stephens reduced their price objective on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. Jefferies Financial Group dropped their target price on ACV Auctions from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 17th. JPMorgan Chase & Co. decreased their price target on ACV Auctions from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, July 17th. Citigroup lowered their price objective on ACV Auctions from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, JMP Securities cut their target price on shares of ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.90.

ACV Auctions Stock Performance

NASDAQ ACVA opened at $9.39 on Tuesday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -19.16 and a beta of 1.64. The stock has a 50-day moving average of $9.99 and a 200 day moving average of $13.36. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. ACV Auctions Inc. has a twelve month low of $8.33 and a twelve month high of $23.46.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.