CenterBook Partners LP Has $7.36 Million Stock Holdings in ACV Auctions Inc. $ACVA

CenterBook Partners LP lifted its stake in shares of ACV Auctions Inc. (NYSE:ACVA) by 61.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 917,549 shares of the company’s stock after buying an additional 349,750 shares during the quarter. CenterBook Partners LP’s holdings in ACV Auctions were worth $7,359,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of ACV Auctions by 2.4% during the 4th quarter. JPMorgan Chase & Co. now owns 3,390,841 shares of the company’s stock worth $27,195,000 after buying an additional 78,207 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of ACV Auctions during the 4th quarter worth about $57,000. WINTON GROUP Ltd lifted its stake in shares of ACV Auctions by 23.8% during the 4th quarter. WINTON GROUP Ltd now owns 38,000 shares of the company’s stock worth $305,000 after buying an additional 7,300 shares during the last quarter. AXQ Capital LP lifted its stake in shares of ACV Auctions by 120.8% during the 4th quarter. AXQ Capital LP now owns 37,654 shares of the company’s stock worth $302,000 after buying an additional 20,599 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of ACV Auctions by 141.7% during the 4th quarter. Royce & Associates LP now owns 1,736,476 shares of the company’s stock worth $13,927,000 after buying an additional 1,018,084 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Price Performance

Shares of ACV Auctions stock opened at $5.65 on Monday. ACV Auctions Inc. has a twelve month low of $4.07 and a twelve month high of $17.16. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $6.49. The stock has a market capitalization of $987.13 million, a price-to-earnings ratio of -16.15 and a beta of 1.84.

Analysts Set New Price Targets

ACVA has been the subject of a number of research reports. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 target price for the company. in a research note on Monday, June 1st. Barclays dropped their price objective on shares of 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. The Goldman Sachs Group dropped their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, ACV Auctions currently has an average rating of “Hold” and an average target price of $10.14.

ACV Auctions Company 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.