SG Americas Securities LLC Has $1.74 Million Stake in Carvana Co. (NYSE:CVNA)

SG Americas Securities LLC grew its stake in Carvana Co. (NYSE:CVNA) by 804.0% during the third quarter, HoldingsChannel reports. The firm owned 9,989 shares of the company’s stock after buying an additional 8,884 shares during the quarter. SG Americas Securities LLC’s holdings in Carvana were worth $1,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVNA. Ridgewood Investments LLC acquired a new stake in Carvana in the second quarter valued at approximately $32,000. Summit Securities Group LLC boosted its stake in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in Carvana in the 2nd quarter valued at approximately $51,000. Finally, Plato Investment Management Ltd acquired a new stake in Carvana during the 1st quarter worth approximately $55,000. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

CVNA opened at $190.96 on Wednesday. The firm’s fifty day moving average price is $153.92 and its two-hundred day moving average price is $123.62. The company has a market capitalization of $38.68 billion, a price-to-earnings ratio of 83.75 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $191.00.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. As a group, analysts anticipate that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $179.06, for a total value of $17,906,000.00. Following the completion of the sale, the insider now directly owns 38,858,131 shares of the company’s stock, valued at $6,957,936,936.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $179.06, for a total value of $17,906,000.00. Following the completion of the transaction, the insider now directly owns 38,858,131 shares in the company, valued at approximately $6,957,936,936.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $136.18, for a total value of $10,213,500.00. Following the sale, the insider now owns 2,315,814 shares in the company, valued at approximately $315,367,550.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,586,866 shares of company stock valued at $389,372,534 in the last three months. Company insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVNA. JPMorgan Chase & Co. increased their price objective on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Robert W. Baird initiated coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Carvana in a research report on Monday, September 9th. Stephens started coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. Finally, DA Davidson upped their target price on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Carvana currently has an average rating of “Hold” and an average target price of $158.72.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.