Moore Capital Management LP Acquires Shares of 12,331 CarMax, Inc. $KMX

Moore Capital Management LP bought a new stake in CarMax, Inc. (NYSE:KMX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,331 shares of the company’s stock, valued at approximately $652,000.

Several other institutional investors have also recently made changes to their positions in KMX. SRS Investment Management LLC grew its holdings in CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after purchasing an additional 5,327,603 shares during the last quarter. AQR Capital Management LLC lifted its stake in CarMax by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after purchasing an additional 4,780,903 shares during the last quarter. Jupiter Topco LLC bought a new stake in CarMax in the second quarter worth about $245,676,000. Primecap Management Co. CA purchased a new position in shares of CarMax during the second quarter valued at approximately $230,548,000. Finally, Norges Bank purchased a new position in shares of CarMax during the fourth quarter valued at approximately $159,232,000.

Insiders Place Their Bets

In related news, CEO Keith Barr purchased 9,400 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the acquisition, the chief executive officer owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter J. Bensen purchased 2,500 shares of CarMax stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the transaction, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 13,900 shares of company stock worth $735,574 over the last 90 days. Company insiders own 1.01% of the company’s stock.

CarMax Stock Down 0.5%

Shares of CarMax stock opened at $61.03 on Wednesday. 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 stock has a market cap of $8.66 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 2.81 and a beta of 1.17. The firm’s 50-day moving average is $57.15 and its two-hundred day moving average is $47.81. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $65.28.

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 net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Mizuho upped their price objective on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. UBS Group set a $60.00 price objective on CarMax in a research report on Wednesday, July 29th. Bank of America increased their target price on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 17th. Finally, Benchmark reiterated a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.00.

CarMax Company Profile

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.