Fulcrum Asset Management LLP Buys Shares of 8,667 Carvana Co. $CVNA

Fulcrum Asset Management LLP bought a new position in Carvana Co. (NYSE:CVNA) during the 2nd quarter, Holdings Channel.com reports. The fund bought 8,667 shares of the company’s stock, valued at approximately $552,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Farmers & Merchants Investments Inc. bought a new stake in Carvana during the fourth quarter valued at about $29,000. Motiv8 Investments LLC purchased a new position in shares of Carvana during the 4th quarter valued at about $33,000. Ascentis Independent Advisors purchased a new position in shares of Carvana during the 1st quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Carvana during the 2nd quarter valued at approximately $38,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE CVNA opened at $74.24 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a market cap of $81.70 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46. The business’s 50 day moving average price is $68.10 and its 200-day moving average price is $68.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the company earned $1.51 EPS. Carvana’s quarterly revenue was up 52.4% compared to the same quarter last year. Sell-side analysts predict that Carvana Co. will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at $12,648,260.10. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total value of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 420,897 shares of company stock worth $28,777,664. Insiders own 15.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore set a $75.00 target price on shares of Carvana in a research note on Thursday, July 30th. Hovde Group upped their price target on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Citigroup reduced their price objective on shares of Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, July 31st. UBS Group restated a “buy” rating and set a $83.00 price objective on shares of Carvana in a research report on Friday, July 31st. Finally, Barclays dropped their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.