CIBC Private Wealth Group LLC Has $4.34 Million Holdings in ACV Auctions Inc. $ACVA

CIBC Private Wealth Group LLC increased its stake in shares of ACV Auctions Inc. (NYSE:ACVA) by 78.6% during the third quarter, HoldingsChannel reports. The fund owned 437,781 shares of the company’s stock after buying an additional 192,694 shares during the period. CIBC Private Wealth Group LLC’s holdings in ACV Auctions were worth $4,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in shares of ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after purchasing an additional 5,475,874 shares during the period. SG Capital Management LLC acquired a new position in shares of ACV Auctions during the third quarter worth about $17,103,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of ACV Auctions by 30.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock worth $62,803,000 after buying an additional 1,475,932 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new stake in ACV Auctions in the 3rd quarter valued at approximately $14,502,000. Finally, Atreides Management LP raised its position in ACV Auctions by 17.4% in the 3rd quarter. Atreides Management LP now owns 5,510,790 shares of the company’s stock valued at $54,612,000 after buying an additional 816,556 shares during the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Price Performance

NYSE:ACVA opened at $4.68 on Friday. The company has a market cap of $815.34 million, a P/E ratio of -12.33 and a beta of 1.69. The firm’s fifty day moving average price is $6.65 and its two-hundred day moving average price is $7.93. ACV Auctions Inc. has a one year low of $4.45 and a one year high of $17.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.60.

ACV Auctions (NYSE:ACVA) last announced its earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). The firm had revenue of $183.65 million for the quarter, compared to the consensus estimate of $181.96 million. ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.ACV Auctions’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS.

Insider Activity

In related news, CEO George Chamoun purchased 24,272 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the transaction, the chief executive officer owned 2,952,977 shares of the company’s stock, valued at approximately $14,912,533.85. This trade represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACVA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research note on Monday, December 29th. Citigroup downgraded shares of ACV Auctions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $7.00 in a research report on Tuesday, February 24th. The Goldman Sachs Group reduced their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. B. Riley Financial dropped their target price on ACV Auctions from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Jefferies Financial Group downgraded ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research note on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.45.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.