Diamond Hill Capital Management Inc. Sells 2,128,619 Shares of CarMax, Inc. $KMX

Diamond Hill Capital Management Inc. cut its position in CarMax, Inc. (NYSE:KMX) by 30.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,833,319 shares of the company’s stock after selling 2,128,619 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in CarMax were worth $216,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of CarMax in the 2nd quarter valued at $5,758,000. Hantz Financial Services Inc. grew its stake in CarMax by 45.3% in the second quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock valued at $12,893,000 after acquiring an additional 59,840 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of CarMax in the second quarter worth about $1,887,000. True North Advisors LLC raised its position in shares of CarMax by 66.6% during the third quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock worth $5,552,000 after purchasing an additional 49,450 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of CarMax by 461.3% during the 2nd quarter. AlphaQuest LLC now owns 7,174 shares of the company’s stock valued at $482,000 after purchasing an additional 5,896 shares in the last quarter.

Analyst Ratings Changes

KMX has been the subject of a number of research reports. Mizuho lowered their target price on CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. Truist Financial upped their target price on shares of CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Zacks Research raised CarMax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of CarMax in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $39.93.

CarMax Price Performance

Shares of NYSE KMX opened at $47.20 on Friday. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $89.47. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. The business has a 50-day moving average of $42.65 and a 200-day moving average of $47.24.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The firm had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue was down 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

About CarMax

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.