CarMax Sees Unusually Large Options Volume (KMX)
CarMax Inc (NYSE:KMX) saw some unusual options trading on Thursday. Stock traders bought 358 put options on the stock. This is an increase of 124% compared to the typical daily volume of 160 put options.
Shares of CarMax (KMX) opened at 63.95 on Friday. The stock’s 50 day moving average price is $62.19 and its 200-day moving average price is $62.76. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 18.37 and a beta of 1.34. CarMax has a 12 month low of $47.00 and a 12 month high of $69.11.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that CarMax will post $3.70 earnings per share for the current fiscal year.
Several research analysts have commented on KMX shares. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $72.00 price objective on shares of CarMax in a research report on Monday, March 13th. Zacks Investment Research raised CarMax from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Wedbush raised CarMax from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $70.00 in a research report on Thursday, May 18th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $70.00 price objective (up from $66.00) on shares of CarMax in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG cut their price objective on CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $69.00.
In other CarMax news, EVP Eric M. Margolin sold 18,659 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $64.06, for a total value of $1,195,295.54. Following the transaction, the executive vice president now directly owns 47,163 shares of the company’s stock, valued at $3,021,261.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edgar H. Grubb sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $58.24, for a total value of $116,480.00. Following the completion of the transaction, the director now directly owns 42,005 shares in the company, valued at $2,446,371.20. The disclosure for this sale can be found here. Insiders sold 70,659 shares of company stock worth $4,382,276 over the last three months. 1.70% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in CarMax during the fourth quarter worth about $397,000. Kentucky Retirement Systems purchased a new stake in CarMax during the fourth quarter worth about $889,000. Teachers Advisors LLC boosted its stake in CarMax by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 255,508 shares of the company’s stock worth $16,452,000 after buying an additional 14,602 shares during the period. Hudson Bay Capital Management LP purchased a new stake in CarMax during the fourth quarter worth about $773,000. Finally, Quadrature Capital Ltd purchased a new stake in CarMax during the fourth quarter worth about $373,000.
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CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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