Endure Capital Management LLC Takes Position in CarMax, Inc. $KMX

Endure Capital Management LLC bought a new position in shares of CarMax, Inc. (NYSE:KMX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 365,447 shares of the company’s stock, valued at approximately $15,195,000. CarMax makes up approximately 10.5% of Endure Capital Management LLC’s investment portfolio, making the stock its 2nd largest position.

Several other hedge funds have also recently modified their holdings of KMX. Van Diest Capital LLC boosted its holdings in CarMax by 106.4% in the 1st quarter. Van Diest Capital LLC now owns 12,056 shares of the company’s stock worth $501,000 after buying an additional 6,214 shares during the last quarter. Waverly Advisors LLC increased its stake in CarMax by 26.7% during the 1st quarter. Waverly Advisors LLC now owns 20,634 shares of the company’s stock worth $858,000 after buying an additional 4,344 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of CarMax by 8.4% during the first quarter. Renaissance Technologies LLC now owns 1,245,000 shares of the company’s stock valued at $51,767,000 after acquiring an additional 96,000 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of CarMax in the first quarter valued at approximately $2,981,000. Finally, Caxton Associates LLP lifted its position in shares of CarMax by 59.0% in the first quarter. Caxton Associates LLP now owns 54,765 shares of the company’s stock valued at $2,277,000 after acquiring an additional 20,327 shares in the last quarter.

CarMax Price Performance

KMX stock opened at $58.31 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The business has a 50 day simple moving average of $49.69 and a 200-day simple moving average of $45.18. The firm has a market capitalization of $8.27 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $62.56.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts anticipate that CarMax, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, Director Peter J. Bensen purchased 2,500 shares of CarMax stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the acquisition, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Barr purchased 9,400 shares of the stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the transaction, the chief executive officer owned 33,375 shares in the company, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 13,900 shares of company stock worth $735,574 in the last three months. 1.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KMX. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $37.00 to $61.00 in a research note on Tuesday, July 21st. Argus upgraded CarMax to a “hold” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Thursday, June 18th. Truist Financial upped their target price on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, CarMax currently has a consensus rating of “Reduce” and an average price target of $49.33.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.