Wolverine Asset Management LLC Has $1.36 Million Stock Holdings in Carvana Co. $CVNA

Wolverine Asset Management LLC trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 41.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,600 shares of the company’s stock after selling 2,500 shares during the quarter. Wolverine Asset Management LLC’s holdings in Carvana were worth $1,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hilltop National Bank purchased a new stake in shares of Carvana during the 2nd quarter worth about $25,000. ORG Partners LLC grew its stake in shares of Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Carvana during the third quarter valued at approximately $38,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Carvana in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 3.8%

Shares of NYSE:CVNA opened at $443.34 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The stock’s 50-day moving average is $406.54 and its 200-day moving average is $372.21. The company has a market cap of $96.45 billion, a P/E ratio of 101.22, a P/E/G ratio of 1.06 and a beta of 3.54. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $485.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.Carvana’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $403.02, for a total value of $5,138,505.00. Following the sale, the chief financial officer directly owned 204,036 shares in the company, valued at $82,230,588.72. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $419.48, for a total transaction of $419,480.00. Following the transaction, the vice president owned 38,744 shares in the company, valued at approximately $16,252,333.12. The trade was a 2.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 467,626 shares of company stock valued at $192,090,109 in the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Stephens upped their price objective on shares of Carvana from $454.00 to $519.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Carvana in a report on Tuesday. Barclays upped their price target on Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Carvana in a report on Thursday, January 8th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $465.64.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.