WINTON GROUP Ltd Purchases New Stake in Carvana Co. $CVNA

WINTON GROUP Ltd acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 350,143 shares of the company’s stock, valued at approximately $23,046,000. Carvana comprises approximately 0.7% of WINTON GROUP Ltd’s holdings, making the stock its 17th largest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after acquiring an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,226 shares during the last quarter. AXA S.A. raised its holdings in shares of Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after purchasing an additional 825 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

CVNA opened at $73.49 on Thursday. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $80.87 billion, a P/E ratio of 40.65, a PEG ratio of 2.15 and a beta of 3.49. The stock has a 50-day moving average price of $69.40 and a 200-day moving average price of $68.39. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.Carvana’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period last year, the firm posted $1.51 EPS. Equities analysts predict that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVNA. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 price objective on shares of Carvana in a report on Friday, July 31st. Citizens Jmp dropped their price target on Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 price target on Carvana in a research note on Thursday, July 30th. DA Davidson set a $67.00 target price on shares of Carvana in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.14.

Insider Buying and Selling at Carvana

In other news, COO Benjamin Huston sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the sale, the chief operating officer owned 478,693 shares of the company’s stock, valued at approximately $34,250,484.15. This represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the transaction, the chief financial officer directly owned 1,029,580 shares in the company, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 400,775 shares of company stock valued at $27,522,038. 15.19% of the stock is currently owned by corporate insiders.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.