Investors Buy High Volume of Call Options on ACV Auctions (NYSE:ACVA)

ACV Auctions Inc. (NYSE:ACVA) saw unusually large options trading activity on Friday. Stock traders purchased 3,251 call options on the stock. This is an increase of 289% compared to the average daily volume of 835 call options.

Institutional Trading of ACV Auctions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its position in ACV Auctions by 72.4% in the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock worth $27,000 after buying an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in ACV Auctions by 2,573.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $30,000 after acquiring an additional 3,629 shares during the last quarter. Larson Financial Group LLC increased its position in ACV Auctions by 38,076.9% during the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock valued at $40,000 after acquiring an additional 4,950 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of ACV Auctions by 28.8% in the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock valued at $44,000 after acquiring an additional 1,382 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of ACV Auctions by 12,979.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after acquiring an additional 5,711 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Trading Up 5.5%

Shares of NYSE:ACVA traded up $0.37 during trading on Friday, hitting $7.07. The company had a trading volume of 576,281 shares, compared to its average volume of 3,401,471. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -19.67 and a beta of 1.84. ACV Auctions has a one year low of $4.07 and a one year high of $11.91. The company has a fifty day simple moving average of $7.44 and a two-hundred day simple moving average of $6.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.52.

Analysts Set New Price Targets

A number of research firms have commented on ACVA. Citigroup raised their price target on ACV Auctions from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Monday, August 17th. Barrington Research raised ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Bank of America restated an “underperform” rating on shares of ACV Auctions in a research note on Tuesday, August 11th. Citizens Jmp lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Finally, Stephens upgraded shares of ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price objective on the stock in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.50.

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.