Bryce Point Capital LLC Makes New Investment in Carvana Co. $CVNA

Bryce Point Capital LLC bought a new position in Carvana Co. (NYSE:CVNA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,035 shares of the company’s stock, valued at approximately $1,023,000. Carvana comprises about 0.9% of Bryce Point Capital LLC’s portfolio, making the stock its 6th largest position.

Other institutional investors also recently modified their holdings of the company. Hilltop National Bank bought a new stake in shares of Carvana during the second quarter worth approximately $25,000. SJS Investment Consulting Inc. raised its stake in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Carvana during the second quarter worth approximately $42,000. Brooklyn Investment Group raised its stake in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after buying an additional 125 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the first quarter worth approximately $33,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target for the company in a research note on Friday, July 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $460.00 target price on shares of Carvana in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $450.00 target price on shares of Carvana in a research note on Thursday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 12,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $364.42, for a total value of $4,646,355.00. Following the completion of the transaction, the chief financial officer owned 208,581 shares in the company, valued at $76,011,088.02. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $359.63, for a total transaction of $35,963,000.00. Following the completion of the transaction, the insider owned 34,742,792 shares of the company’s stock, valued at $12,494,550,286.96. This trade represents a 0.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 804,855 shares of company stock worth $289,775,284 over the last ninety days. 16.36% of the stock is owned by corporate insiders.

Carvana Stock Up 8.7%

Carvana stock opened at $333.12 on Tuesday. The stock has a market capitalization of $71.69 billion, a PE ratio of 76.05, a price-to-earnings-growth ratio of 1.04 and a beta of 3.50. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $362.00 and a 200-day moving average of $332.73.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company 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.