The Manufacturers Life Insurance Company bought a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,912 shares of the company’s stock, valued at approximately $264,000. The Manufacturers Life Insurance Company owned approximately 0.08% of Carvana as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CVNA. Sylebra HK Co Ltd bought a new position in shares of Carvana in the second quarter valued at about $9,373,000. Cubist Systematic Strategies LLC bought a new stake in Carvana during the 2nd quarter worth about $258,000. Green Square Capital LLC bought a new stake in Carvana during the 2nd quarter worth about $385,000. Abrams Bison Investments LLC bought a new stake in Carvana during the 2nd quarter worth about $51,175,000. Finally, Symmetry Peak Management LLC bought a new stake in Carvana during the 2nd quarter worth about $307,000. Institutional investors own 15.20% of the company’s stock.
Shares of Carvana Co. (CVNA) opened at $20.55 on Thursday. Carvana Co. has a 12 month low of $8.14 and a 12 month high of $23.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.50 and a quick ratio of 0.71.
Carvana (NYSE:CVNA) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $243.61 million. sell-side analysts predict that Carvana Co. will post -1.19 EPS for the current year.
Several analysts have weighed in on CVNA shares. Zacks Investment Research raised Carvana from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, October 16th. Craig Hallum boosted their price objective on Carvana from $16.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Robert W. Baird reiterated a “buy” rating and issued a $17.00 price objective on shares of Carvana in a research report on Monday, November 20th. Barrington Research began coverage on Carvana in a research report on Friday, October 27th. They set a “market perform” rating for the company. Finally, Wedbush reiterated a “neutral” rating and set a $14.00 price objective (down previously from $20.00) on shares of Carvana in a research note on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.77.
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.
Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNA).
Receive News & Ratings for Carvana Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana Co. and related companies with MarketBeat.com's FREE daily email newsletter.