DoubleLine ETF Adviser LP Makes New Investment in CarMax, Inc. (NYSE:KMX)

DoubleLine ETF Adviser LP acquired a new stake in shares of CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,580 shares of the company’s stock, valued at approximately $336,000.

A number of other institutional investors also recently modified their holdings of KMX. First Community Trust NA bought a new stake in CarMax during the 2nd quarter valued at $29,000. Blue Trust Inc. increased 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 worth $37,000 after acquiring an additional 287 shares in the last quarter. Studio Investment Management LLC raised its holdings in shares of 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 acquiring an additional 334 shares during the last quarter. Headlands Technologies LLC bought a new position in CarMax in the 1st quarter valued at about $55,000. Finally, First Financial Corp IN boosted its stake in CarMax by 127.2% during the 1st quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock valued at $91,000 after purchasing an additional 585 shares during the last quarter.

Insider Transactions at CarMax

In related news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the sale, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total transaction of $777,680.28. Following the sale, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,690,899.60. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock worth $14,803,843 in the last quarter. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. 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 note on Monday, June 24th. Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Finally, Wedbush restated an “outperform” rating and set a $95.00 price target on shares of CarMax in a report on Tuesday, September 17th. 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’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Hold” and an average price target of $77.50.

CarMax Stock Performance

Shares of KMX stock opened at $78.17 on Friday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 1.56 and a beta of 1.69. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The firm’s 50-day simple moving average is $79.76 and its two-hundred day simple moving average is $76.40.

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.