Man Group plc Purchases New Position in CarMax, Inc. $KMX

Man Group plc acquired a new position in CarMax, Inc. (NYSE:KMX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 182,434 shares of the company’s stock, valued at approximately $9,649,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Basecamp Wealth Advisors LLC lifted its stake in CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 327 shares during the last quarter. Huntington National Bank increased its stake in shares of CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax in the 2nd quarter valued at $28,000. Global Retirement Partners LLC acquired a new position in CarMax during the second quarter worth $29,000. Finally, Wellington Grp LLC raised its holdings in CarMax by 6,500.0% during the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after buying an additional 715 shares in the last quarter.

Insiders Place Their Bets

In other CarMax news, Director Peter J. Bensen purchased 2,500 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sona Chawla acquired 2,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the purchase, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. The trade was a 10.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 13,900 shares of company stock valued at $735,574 in the last three months. Company insiders own 1.01% of the company’s stock.

CarMax Stock Down 1.1%

KMX stock opened at $61.96 on Friday. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.87 and a beta of 1.15. The company has a 50-day moving average of $56.79 and a two-hundred day moving average of $47.58. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $65.28. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that CarMax, Inc. will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

KMX has been the subject of a number of analyst reports. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Robert W. Baird raised their price objective on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a research note on Thursday, June 18th. Weiss Ratings raised CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Finally, Bank of America upped their target price on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, CarMax currently has a consensus rating of “Hold” and a consensus price target of $51.00.

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.