Global Endowment Management LP cut its position in shares of CarMax Inc (NYSE:KMX) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,520 shares of the company’s stock after selling 1,900 shares during the quarter. CarMax accounts for about 0.5% of Global Endowment Management LP’s investment portfolio, making the stock its 28th largest holding. Global Endowment Management LP’s holdings in CarMax were worth $3,501,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KMX. Korea Investment CORP lifted its stake in CarMax by 140.5% during the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after purchasing an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue bought a new position in CarMax during the second quarter worth $112,000. Seven Eight Capital LP bought a new position in CarMax during the second quarter worth $133,000. Global X Management Co. LLC lifted its stake in CarMax by 7.3% during the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after purchasing an additional 169 shares during the last quarter. Finally, MML Investors Services LLC bought a new position in CarMax during the second quarter worth $201,000.
In other CarMax news, SVP Mohammad Shamim sold 13,938 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $66.08, for a total value of $921,023.04. Following the transaction, the senior vice president now owns 9,218 shares of the company’s stock, valued at $609,125.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Edwin J. Hill sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total value of $2,270,800.00. Following the completion of the transaction, the executive vice president now directly owns 39,792 shares in the company, valued at approximately $2,581,704.96. The disclosure for this sale can be found here. Insiders sold 154,515 shares of company stock worth $10,108,759 over the last quarter. Company insiders own 1.90% of the company’s stock.
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CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year.
Several brokerages recently issued reports on KMX. Wedbush restated an “outperform” rating and set a $81.00 price objective (up from $77.00) on shares of CarMax in a research note on Monday. Royal Bank Of Canada raised their price objective on CarMax from $77.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday. Goldman Sachs Group, Inc. (The) cut CarMax from a “buy” rating to a “neutral” rating in a research note on Monday. Citigroup Inc. raised their price objective on CarMax to $84.00 and gave the stock a “buy” rating in a research note on Monday. Finally, CIBC raised their price objective on CarMax from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.00.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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