AdvisorShares Investments LLC Invests $479,000 in CarMax, Inc. $KMX

AdvisorShares Investments LLC purchased a new position in shares of CarMax, Inc. (NYSE:KMX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 12,400 shares of the company’s stock, valued at approximately $479,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC increased its holdings in shares of CarMax by 129.4% during the 3rd quarter. Intech Investment Management LLC now owns 86,444 shares of the company’s stock worth $3,879,000 after buying an additional 48,757 shares during the last quarter. Silver Heights Capital Management Inc boosted its position in shares of CarMax by 39.5% during the 3rd quarter. Silver Heights Capital Management Inc now owns 926,167 shares of the company’s stock worth $41,557,000 after purchasing an additional 262,478 shares during the period. Freestone Capital Holdings LLC purchased a new position in shares of CarMax during the 4th quarter worth approximately $968,000. Dimensional Fund Advisors LP boosted its position in shares of CarMax by 33.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock worth $165,358,000 after purchasing an additional 918,553 shares during the period. Finally, Rings Capital Management LLC boosted its position in shares of CarMax by 71.6% during the 3rd quarter. Rings Capital Management LLC now owns 1,074,000 shares of the company’s stock worth $48,190,000 after purchasing an additional 448,000 shares during the period.

CarMax Stock Performance

Shares of KMX stock opened at $44.51 on Friday. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $71.99. The stock has a market capitalization of $6.31 billion, a PE ratio of 27.82, a P/E/G ratio of 1.69 and a beta of 1.19. The firm has a 50 day moving average of $40.64 and a two-hundred day moving average of $41.19.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the company posted $0.58 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts predict that CarMax, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stephens increased their price objective on shares of CarMax from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 2nd. Argus raised shares of CarMax to a “hold” rating in a research report on Thursday, April 16th. Robert W. Baird increased their price objective on shares of CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $41.00 price objective on shares of CarMax in a research report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CarMax from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $41.27.

CarMax Company Profile

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.