Penserra Capital Management LLC Decreases Position in CarMax, Inc. (NYSE:KMX)

Penserra Capital Management LLC decreased its position in shares of CarMax, Inc. (NYSE:KMX) by 17.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,607 shares of the company’s stock after selling 2,500 shares during the quarter. Penserra Capital Management LLC’s holdings in CarMax were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Community Trust NA purchased a new stake in CarMax during the 2nd quarter valued at $29,000. Quarry LP lifted its holdings in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax during the third quarter valued at $32,000. Blue Trust Inc. boosted its position in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC increased its holdings in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares in the last quarter.

CarMax Stock Down 0.6 %

NYSE KMX opened at $84.56 on Thursday. CarMax, Inc. has a 52 week low of $62.90 and a 52 week high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $13.10 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 1.73 and a beta of 1.68. The stock’s 50-day moving average price is $75.48 and its 200-day moving average price is $76.01.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. CarMax’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. On average, equities research analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on KMX shares. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Truist Financial raised their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $79.73.

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.