Pallas Capital Advisors LLC Sells 9,481 Shares of CarMax, Inc. $KMX

Pallas Capital Advisors LLC lowered its position in shares of CarMax, Inc. (NYSE:KMX) by 29.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,858 shares of the company’s stock after selling 9,481 shares during the period. Pallas Capital Advisors LLC’s holdings in CarMax were worth $1,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC grew its holdings in CarMax by 105.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 327 shares in the last quarter. Huntington National Bank raised its holdings in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of CarMax in the 2nd quarter worth approximately $28,000. Global Retirement Partners LLC bought a new position in shares of CarMax during the second quarter valued at approximately $29,000. Finally, Wellington Grp LLC boosted its stake in shares of CarMax by 6,500.0% during the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after purchasing an additional 715 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a research note on Thursday, June 18th. Robert W. Baird lifted their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. UBS Group set a $60.00 price target on CarMax in a research report on Wednesday, July 29th. Benchmark restated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada raised their price objective on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.00.

CarMax Trading Down 2.1%

NYSE:KMX opened at $57.28 on Wednesday. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $62.56. The firm has a 50 day moving average of $55.03 and a 200 day moving average of $46.67. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.74 and a beta of 1.15.

CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the transaction, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the purchase, the director owned 21,702 shares in the company, valued at $1,158,669.78. The trade was a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 13,900 shares of company stock valued at $735,574 in the last quarter. 1.01% of the stock is currently owned by corporate insiders.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.