Los Angeles Capital Management LLC Acquires 105,768 Shares of Carvana Co. $CVNA

Los Angeles Capital Management LLC raised its stake in shares of Carvana Co. (NYSE:CVNA) by 1,950.7% in the second quarter, Holdings Channel.com reports. The firm owned 111,190 shares of the company’s stock after buying an additional 105,768 shares during the period. Los Angeles Capital Management LLC’s holdings in Carvana were worth $37,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new position in shares of Carvana during the second quarter valued at approximately $25,000. Brooklyn Investment Group lifted its stake in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Carvana during the 1st quarter valued at $33,000. SJS Investment Consulting Inc. boosted its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Carvana during the 2nd quarter worth $42,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of several analyst reports. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a report on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Gordon Haskett started coverage on shares of Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 target price on the stock. William Blair restated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $460.00 target price on shares of Carvana in a report on Thursday, October 30th. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Carvana Stock Performance

Shares of CVNA stock opened at $304.49 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The firm has a market cap of $65.53 billion, a price-to-earnings ratio of 69.52, a P/E/G ratio of 1.10 and a beta of 3.50. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The firm’s 50-day simple moving average is $356.50 and its two-hundred day simple moving average is $334.57.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 54.5% on a year-over-year basis. As a group, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the sale, the insider directly owned 83,018 shares in the company, valued at $31,131,750. The trade was a 15.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira J. Platt sold 14,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total value of $5,307,960.00. Following the transaction, the director directly owned 7,231 shares in the company, valued at $2,741,561.34. This represents a 65.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 670,975 shares of company stock valued at $239,834,203 in the last quarter. Insiders own 17.12% of the company’s stock.

About Carvana

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.