Assetmark Inc. Sells 326,237 Shares of CarMax, Inc. $KMX

Assetmark Inc. lessened its holdings in CarMax, Inc. (NYSE:KMX) by 63.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 187,167 shares of the company’s stock after selling 326,237 shares during the quarter. Assetmark Inc.’s holdings in CarMax were worth $7,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Freestone Capital Holdings LLC purchased a new position in CarMax in the fourth quarter valued at approximately $968,000. SG Americas Securities LLC increased its position in CarMax by 324.3% in the fourth quarter. SG Americas Securities LLC now owns 177,754 shares of the company’s stock worth $6,868,000 after buying an additional 135,858 shares during the last quarter. Bessemer Group Inc. increased its position in CarMax by 28.1% in the first quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock worth $6,491,000 after buying an additional 34,211 shares during the last quarter. HF Advisory Group LLC raised its stake in shares of CarMax by 347.7% in the fourth quarter. HF Advisory Group LLC now owns 162,544 shares of the company’s stock valued at $6,281,000 after buying an additional 126,236 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in shares of CarMax by 38.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 175,450 shares of the company’s stock valued at $6,779,000 after buying an additional 49,049 shares during the period.

Insiders Place Their Bets

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the acquisition, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the purchase, the director directly owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 13,900 shares of company stock worth $735,574. 1.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KMX has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Thursday, June 18th. Barclays boosted their price objective on CarMax from $31.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, June 18th. Royal Bank Of Canada upped their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Argus raised shares of CarMax to a “hold” rating in a research report on Thursday, April 16th. Finally, Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price on the stock in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $47.73.

CarMax Price Performance

Shares of CarMax stock opened at $55.83 on Tuesday. The business’s 50 day simple moving average is $48.07 and its two-hundred day simple moving average is $44.69. CarMax, Inc. has a one year low of $30.26 and a one year high of $63.74. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The stock has a market capitalization of $7.92 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. Analysts forecast that CarMax, Inc. will post 2.7 EPS for the current year.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.