Y Intercept Hong Kong Ltd Buys New Position in Carvana Co. $CVNA

Y Intercept Hong Kong Ltd purchased a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,576 shares of the company’s stock, valued at approximately $6,596,000.

Several other institutional investors have also recently added to or reduced their stakes in CVNA. Hilltop National Bank acquired a new position in Carvana in the second quarter valued at approximately $25,000. Brooklyn Investment Group lifted its stake in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Carvana in the first quarter valued at approximately $33,000. SJS Investment Consulting Inc. lifted its stake in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Finally, LRI Investments LLC acquired a new position in Carvana in the second quarter valued at approximately $42,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVNA. Citigroup reissued a “buy” rating on shares of Carvana in a research note on Thursday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $500.00 price target on shares of Carvana in a research note on Friday. Evercore ISI upped their target price on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, BTIG Research restated a “buy” rating and set a $450.00 price target on shares of Carvana in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $419.94.

Carvana Trading Up 1.3%

NYSE CVNA opened at $355.73 on Tuesday. The firm has a market capitalization of $76.55 billion, a P/E ratio of 89.16, a PEG ratio of 1.12 and a beta of 3.55. The business has a fifty day simple moving average of $363.60 and a 200 day simple moving average of $327.51. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.Carvana’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) EPS. On average, analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 93,376 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total value of $36,805,084.16. Following the completion of the transaction, the insider owned 6,624 shares in the company, valued at $2,610,915.84. This represents a 93.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $398.91, for a total value of $31,912,800.00. Following the completion of the transaction, the insider owned 197,832 shares of the company’s stock, valued at $78,917,163.12. This trade represents a 28.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,428,292 shares of company stock worth $524,442,852 in the last quarter. 16.36% of the stock is currently owned by company insiders.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.