Fund 1 Investments LLC Invests $3.13 Million in Carvana Co. $CVNA

Fund 1 Investments LLC purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 47,500 shares of the company’s stock, valued at approximately $3,126,000. Carvana makes up about 0.5% of Fund 1 Investments LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of CVNA. AlphaGrep UK Ltd acquired a new stake in shares of Carvana in the 2nd quarter valued at $554,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Carvana during the second quarter worth $6,876,000. Raiffeisen Bank International AG bought a new position in Carvana during the second quarter valued at about $500,000. NWF Advisory Services Inc. raised its holdings in Carvana by 400.0% during the second quarter. NWF Advisory Services Inc. now owns 7,710 shares of the company’s stock valued at $507,000 after buying an additional 6,168 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Carvana by 467.0% in the second quarter. TD Waterhouse Canada Inc. now owns 14,697 shares of the company’s stock worth $998,000 after buying an additional 12,105 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 1,029,580 shares in the company, valued at $70,361,497.20. This represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone purchased 25,000 shares of Carvana stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $61.80 per share, with a total value of $1,545,000.00. Following the completion of the acquisition, the director owned 168,573 shares in the company, valued at approximately $10,417,811.40. This trade represents a 17.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 420,897 shares of company stock valued at $28,777,664 in the last three months. 15.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CVNA shares. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Citigroup cut their price objective on Carvana from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Stephens boosted their target price on Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Hovde Group upped their target price on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Finally, UBS Group reiterated a “buy” rating and set a $83.00 price target on shares of Carvana in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Carvana Stock Performance

Shares of NYSE CVNA opened at $73.70 on Thursday. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $67.80 and its two-hundred day moving average is $68.40. The company has a market cap of $81.10 billion, a P/E ratio of 40.76, a P/E/G ratio of 2.75 and a beta of 3.46. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion during 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 in the prior year, the business earned $1.51 earnings per share. On average, equities analysts expect that Carvana Co. will post 1.68 EPS for the current year.

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.