Carvana Co (NYSE:CVNA) major shareholder Goodnow Investment Group, Llc acquired 81,000 shares of the stock in a transaction on Friday, March 9th. The shares were acquired at an average cost of $18.23 per share, for a total transaction of $1,476,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of NYSE:CVNA opened at $22.91 on Friday. The stock has a market capitalization of $3,095.87 and a PE ratio of -18.93. The company has a current ratio of 1.60, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Carvana Co has a fifty-two week low of $8.14 and a fifty-two week high of $24.89.
Carvana (NYSE:CVNA) last issued its earnings results on Tuesday, March 6th. The company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02). The firm had revenue of $265.10 million during the quarter, compared to analysts’ expectations of $269.60 million. Carvana had a negative net margin of 11.17% and a negative return on equity of 74.69%. equities analysts predict that Carvana Co will post -1.33 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Rehmann Capital Advisory Group acquired a new stake in shares of Carvana in the fourth quarter valued at about $270,000. Sylebra HK Co Ltd lifted its stake in shares of Carvana by 12.7% in the fourth quarter. Sylebra HK Co Ltd now owns 1,468,304 shares of the company’s stock valued at $28,074,000 after purchasing an additional 165,884 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $133,000. Deutsche Bank AG lifted its stake in shares of Carvana by 22.0% in the fourth quarter. Deutsche Bank AG now owns 59,016 shares of the company’s stock valued at $1,127,000 after purchasing an additional 10,654 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Carvana by 24.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,345,559 shares of the company’s stock valued at $25,727,000 after purchasing an additional 262,075 shares during the period. 14.86% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on the stock. Craig Hallum downgraded shares of Carvana from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, March 7th. BMO Capital Markets downgraded shares of Carvana from an “outperform” rating to a “market perform” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, March 7th. Citigroup assumed coverage on shares of Carvana in a research report on Friday, March 9th. They set a “buy” rating and a $23.00 price objective on the stock. Barrington Research reissued a “hold” rating on shares of Carvana in a research report on Friday, March 2nd. Finally, Zacks Investment Research downgraded shares of Carvana from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $20.18.
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Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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