Invenomic Capital Management LP Takes $3.52 Million Position in CarMax, Inc. $KMX

Invenomic Capital Management LP bought a new position in CarMax, Inc. (NYSE:KMX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 78,349 shares of the company’s stock, valued at approximately $3,516,000. Invenomic Capital Management LP owned approximately 0.05% of CarMax at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in CarMax during the 2nd quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new stake in shares of CarMax during the 2nd quarter worth approximately $30,000. Center for Financial Planning Inc. purchased a new stake in shares of CarMax during the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC boosted its position in shares of CarMax by 220.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after acquiring an additional 605 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of CarMax by 121.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock valued at $45,000 after acquiring an additional 539 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on KMX. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Friday, January 9th. Robert W. Baird increased their price objective on shares of CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada lifted their price objective on shares of CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Friday, December 19th. Zacks Research upgraded shares of CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Mizuho decreased their target price on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, CarMax presently has an average rating of “Reduce” and an average price target of $39.21.

CarMax Stock Performance

NYSE:KMX opened at $41.70 on Tuesday. The firm has a market capitalization of $5.91 billion, a PE ratio of 13.76, a PEG ratio of 0.99 and a beta of 1.35. The stock’s fifty day moving average is $44.42 and its 200 day moving average is $44.32. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $82.79. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. CarMax’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

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.