CTC Alternative Strategies Ltd. Acquires New Holdings in Carvana Co. $CVNA

CTC Alternative Strategies Ltd. bought a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,680 shares of the company’s stock, valued at approximately $505,000. Carvana comprises about 0.7% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 29th largest holding.

A number of other large investors have also added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new stake in shares of Carvana in the 1st quarter valued at about $26,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Carvana in the 4th quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised 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 worth $30,000 after acquiring an additional 58 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in shares of Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in Carvana during the fourth quarter valued at approximately $33,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Up 0.3%

CVNA stock opened at $74.24 on Monday. The stock has a market capitalization of $81.70 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 2.69 and a beta of 3.46. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $68.10 and a 200 day moving average of $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, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the business posted $1.51 EPS. Carvana’s revenue for the quarter was up 52.4% compared to the same quarter last year. Sell-side analysts forecast that Carvana Co. will post 1.68 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the completion of the sale, the chief operating officer owned 458,755 shares of the company’s stock, valued at approximately $31,447,655.25. The trade was a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.50, for a total value of $1,132,500.00. Following the sale, the director owned 186,470 shares in the company, valued at approximately $14,078,485. The trade was a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 302,147 shares of company stock worth $20,418,064 over the last three months. Corporate insiders own 15.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Hovde Group raised their target price on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. Morgan Stanley set a $90.00 price objective on Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. Argus lowered their price objective on Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Weiss Ratings raised Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Finally, Barclays dropped their target price on Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

About Carvana

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.