Oppenheimer Asset Management Inc. Reduces Stock Holdings in ACV Auctions Inc. $ACVA

Oppenheimer Asset Management Inc. reduced its stake in shares of ACV Auctions Inc. (NYSE:ACVA) by 52.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 141,513 shares of the company’s stock after selling 158,316 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ACV Auctions were worth $1,135,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ACVA. Wasatch Advisors LP raised its holdings in shares of ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after buying an additional 5,475,874 shares during the period. SG Capital Management LLC purchased a new stake in shares of ACV Auctions during the 3rd quarter valued at about $17,103,000. ArrowMark Colorado Holdings LLC grew its stake in ACV Auctions by 30.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new stake in ACV Auctions during the 3rd quarter valued at approximately $14,502,000. Finally, Iridian Asset Management LLC CT grew its stake in ACV Auctions by 58.9% during the 4th quarter. Iridian Asset Management LLC CT now owns 2,989,152 shares of the company’s stock valued at $23,973,000 after purchasing an additional 1,108,301 shares in the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACVA has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th. The Goldman Sachs Group lowered their price objective on ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Barrington Research upgraded ACV Auctions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 24th. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of ACV Auctions in a research note on Tuesday, February 24th. Finally, Barclays lowered their price objective on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.45.

ACV Auctions Price Performance

Shares of ACVA opened at $5.41 on Wednesday. The firm has a market cap of $941.37 million, a price-to-earnings ratio of -14.23 and a beta of 1.78. The stock has a 50 day moving average of $4.82 and a 200-day moving average of $6.80. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.44. ACV Auctions Inc. has a 52 week low of $4.07 and a 52 week high of $17.54.

ACV Auctions (NYSE:ACVA) last issued its earnings results on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The firm had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.ACV Auctions’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.16) EPS. As a group, analysts forecast that ACV Auctions Inc. will post -0.19 EPS for the current year.

Insider Activity at ACV Auctions

In other news, CEO George Chamoun bought 24,272 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the transaction, the chief executive officer owned 2,952,977 shares in the company, valued at $14,912,533.85. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

ACV Auctions Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.