Magnetar Financial LLC Invests $1.45 Million in CarMax, Inc (KMX) Stock

Magnetar Financial LLC acquired a new stake in CarMax, Inc (NYSE:KMX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,061 shares of the company’s stock, valued at approximately $1,445,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KMX. Royce & Associates LP boosted its stake in shares of CarMax by 123.9% during the 3rd quarter. Royce & Associates LP now owns 40,922 shares of the company’s stock worth $3,102,000 after purchasing an additional 22,647 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of CarMax by 9.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 25,409 shares of the company’s stock worth $1,926,000 after acquiring an additional 2,202 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of CarMax by 6.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 22,497 shares of the company’s stock worth $1,713,000 after acquiring an additional 1,300 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of CarMax by 357.5% in the third quarter. Engineers Gate Manager LP now owns 32,900 shares of the company’s stock worth $2,494,000 after acquiring an additional 25,709 shares during the last quarter. Finally, Sirios Capital Management L P boosted its position in shares of CarMax by 5.4% in the third quarter. Sirios Capital Management L P now owns 669,994 shares of the company’s stock worth $50,793,000 after acquiring an additional 34,538 shares during the last quarter.

In other news, COO William C. Jr. Wood sold 201,701 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $73.56, for a total transaction of $14,837,125.56. Following the completion of the sale, the chief operating officer now owns 146,717 shares of the company’s stock, valued at $10,792,502.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Tiefel sold 23,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $76.39, for a total transaction of $1,756,970.00. The disclosure for this sale can be found here. Insiders have sold 625,955 shares of company stock worth $46,214,378 in the last quarter. Insiders own 1.70% of the company’s stock.

CarMax, Inc (NYSE:KMX) traded up $0.51 during midday trading on Friday, reaching $67.48. 1,607,819 shares of the company traded hands, compared to its average volume of 2,237,310. CarMax, Inc has a 52-week low of $54.29 and a 52-week high of $77.64. The company has a debt-to-equity ratio of 3.82, a current ratio of 2.33 and a quick ratio of 0.48. The stock has a market capitalization of $12,210.64, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, September 22nd. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. CarMax had a net margin of 4.14% and a return on equity of 22.91%. CarMax’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. sell-side analysts anticipate that CarMax, Inc will post 3.84 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on KMX shares. Citigroup raised their target price on shares of CarMax to $84.00 and gave the stock a “buy” rating in a research report on Monday, September 25th. Oppenheimer reissued a “buy” rating on shares of CarMax in a research report on Friday, August 25th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Friday, September 8th. Deutsche Bank reissued a “buy” rating and issued a $84.00 target price on shares of CarMax in a research report on Monday, September 25th. Finally, Berenberg Bank started coverage on shares of CarMax in a research report on Wednesday, October 4th. They issued a “hold” rating and a $83.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $77.00.

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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.

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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