New York State Common Retirement Fund Acquires Shares of 16,200 Carvana Co. (CVNA)

New York State Common Retirement Fund acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,200 shares of the company’s stock, valued at approximately $332,000. New York State Common Retirement Fund owned 0.11% of Carvana at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CVNA. Spark Investment Management LLC bought a new position in Carvana during the second quarter worth $2,274,000. Schwab Charles Investment Management Inc. bought a new position in Carvana during the second quarter worth $508,000. Rhumbline Advisers bought a new stake in shares of Carvana in the second quarter valued at about $392,000. ClariVest Asset Management LLC bought a new stake in shares of Carvana in the second quarter valued at about $190,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Carvana in the second quarter valued at about $10,604,000. 12.31% of the stock is owned by hedge funds and other institutional investors.

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Carvana Co. (NYSE CVNA) opened at $15.50 on Friday. Carvana Co. has a 52 week low of $8.14 and a 52 week high of $23.70. The company has a quick ratio of 0.71, a current ratio of 1.50 and a debt-to-equity ratio of 0.07.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.01. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $243.61 million. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. equities research analysts anticipate that Carvana Co. will post -1.19 EPS for the current fiscal year.

A number of brokerages have recently issued reports on CVNA. Wedbush reissued a “neutral” rating and issued a $14.00 target price (down previously from $20.00) on shares of Carvana in a research report on Wednesday, November 8th. Robert W. Baird reduced their target price on shares of Carvana from $22.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $16.00 target price (up previously from $12.00) on shares of Carvana in a research report on Friday, August 11th. BMO Capital Markets reduced their target price on shares of Carvana from $25.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Finally, JMP Securities reduced their target price on shares of Carvana from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.31.

Carvana Company Profile

Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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