Pallas Capital Advisors LLC Invests $204,000 in CarMax, Inc. (NYSE:KMX)

Pallas Capital Advisors LLC purchased a new position in CarMax, Inc. (NYSE:KMX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,779 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of CarMax in the 4th quarter valued at approximately $288,278,000. Morningstar Investment Services LLC lifted its position in shares of CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after buying an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of CarMax by 1,327.3% in the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after buying an additional 951,558 shares during the period. Epoch Investment Partners Inc. grew its position in shares of CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after buying an additional 577,685 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in CarMax by 5,711.9% during the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after acquiring an additional 419,826 shares during the period.

CarMax Price Performance

KMX stock traded down $0.34 during trading hours on Tuesday, hitting $79.97. 298,790 shares of the stock traded hands, compared to its average volume of 1,947,010. The stock has a 50-day simple moving average of $76.35 and a 200 day simple moving average of $75.39. The company has a market cap of $12.48 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.66 and a beta of 1.69. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter last year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the sale, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at $72,097.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,243 shares of company stock worth $14,893,042. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Mizuho dropped their price target on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Morgan Stanley reissued an “overweight” rating and set a $80.00 price target on shares of CarMax in a report on Friday, June 21st. StockNews.com upgraded shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Truist Financial lifted their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada upped their target price on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.25.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.