Alpine Global Management LLC Raises Stake in Carvana Co. $CVNA

Alpine Global Management LLC grew its holdings in Carvana Co. (NYSE:CVNA) by 3,553.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,604 shares of the company’s stock after acquiring an additional 43,383 shares during the quarter. Carvana accounts for 3.2% of Alpine Global Management LLC’s portfolio, making the stock its 4th largest holding. Alpine Global Management LLC’s holdings in Carvana were worth $18,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Corp increased its stake in Carvana by 6.4% during the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after acquiring an additional 25 shares during the period. Finivi Inc. boosted its stake in Carvana by 4.6% during the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after buying an additional 31 shares in the last quarter. HB Wealth Management LLC boosted its stake in Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after buying an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after buying an additional 31 shares during the period. Finally, Insigneo Advisory Services LLC increased its holdings in Carvana by 4.8% in the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after buying an additional 32 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.40, for a total value of $4,488,000.00. Following the completion of the sale, the chief financial officer directly owned 1,036,594 shares in the company, valued at approximately $72,976,217.60. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the transaction, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 415,812 shares of company stock valued at $29,056,896 in the last 90 days. 15.19% of the stock is owned by corporate insiders.

Carvana Stock Up 5.9%

Shares of CVNA opened at $66.56 on Friday. The company has a market capitalization of $73.01 billion, a P/E ratio of 40.49, a PEG ratio of 10.61 and a beta of 3.45. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The business’s 50 day simple moving average is $71.54 and its 200-day simple moving average is $75.15. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. As a group, sell-side analysts predict that Carvana Co. will post 1.58 EPS for the current fiscal year.

Carvana News Roundup

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana is pushing deeper into new-car sales with its Dallas “car playground” concept and plans to acquire seven Stellantis dealerships, which could expand its addressable market and support longer-term growth. Carvana (CVNA) Stock Could Be 45.6% Undervalued After Dallas Launch And Dealership Deal
• Positive Sentiment: Commentary around Carvana’s new sales model has highlighted customer convenience and innovation, which may be helping sentiment around the company’s long-term strategy. Carvana opens ‘car playground’ for easy test drive booking
• Positive Sentiment: Some analysts continue to argue that CVNA remains undervalued relative to its growth and operational improvements, with bullish reports pointing to expanding margins and strong execution. Carvana: 40% Growth, Expanding Margins, And More Upside Ahead
• Neutral Sentiment: Carvana’s insider activity included a director sale of 15,000 shares, but the transaction was relatively small compared with the executive’s remaining stake and does not by itself signal a major fundamental change. SEC Form 4 filing for Ira J. Platt
• Negative Sentiment: Bearish articles are warning that Carvana’s rally may have run ahead of fundamentals, citing valuation risk and the potential for a “bull trap” if growth expectations cool. Carvana’s Triple-Top Bull-Trap Plays Out – Inflated Valuation Risks Remain
• Negative Sentiment: Peer CarMax’s earnings update raised concerns about used-car margin pressure, weaker volumes, and credit risk, which spilled over into CVNA and weighed on sentiment across the auto retail group. Carvana Stock Falls As CarMax Warns Of Persistent Low Margins

Analyst Upgrades and Downgrades

CVNA has been the topic of several recent research reports. BTIG Research reiterated a “buy” rating and set a $97.00 target price on shares of Carvana in a research report on Friday, June 5th. Robert W. Baird set a $88.00 price target on shares of Carvana in a research report on Friday, May 15th. Wedbush cut their price target on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. BNP Paribas Exane lifted their price objective on Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Finally, Barclays set a $93.00 price objective on Carvana and gave the company an “overweight” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.