CarMax (NYSE:KMX) Director Peter Bensen Buys 2,500 Shares of Stock

CarMax, Inc. (NYSE:KMX) Director Peter Bensen acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

CarMax Trading Down 2.5%

Shares of NYSE:KMX opened at $50.62 on Thursday. The stock has a market capitalization of $7.18 billion, a PE ratio of 33.09, a P/E/G ratio of 1.78 and a beta of 1.21. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $71.99. The firm has a fifty day moving average price of $43.02 and a 200 day moving average price of $42.94. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 EPS. Analysts expect that CarMax, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KMX shares. Robert W. Baird upped their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Benchmark reissued a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. UBS Group boosted their price objective on shares of CarMax from $42.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America upped their price objective on shares of CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a report on Wednesday, June 17th. Finally, Argus upgraded shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $47.73.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SRS Investment Management LLC lifted its holdings in shares of CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after buying an additional 5,327,603 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of CarMax by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after acquiring an additional 4,780,903 shares during the last quarter. Norges Bank acquired a new stake in shares of CarMax in the fourth quarter worth $159,232,000. Arrowstreet Capital Limited Partnership increased its position in CarMax by 73.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after acquiring an additional 1,494,205 shares during the period. Finally, Pacer Advisors Inc. bought a new position in CarMax during the first quarter worth $48,634,000.

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.