CenterBook Partners LP Acquires 349,750 Shares of ACV Auctions Inc. $ACVA

CenterBook Partners LP boosted its holdings in ACV Auctions Inc. (NYSE:ACVA) by 61.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 917,549 shares of the company’s stock after purchasing an additional 349,750 shares during the period. CenterBook Partners LP owned about 0.53% of ACV Auctions worth $7,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ACVA. Wasatch Advisors LP grew its position in ACV Auctions by 301.0% in the second 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 in the last quarter. SG Capital Management LLC bought a new position in ACV Auctions in the third quarter valued at $17,103,000. ArrowMark Colorado Holdings LLC grew its position in ACV Auctions by 30.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Hawk Ridge Capital Management LP bought a new position in ACV Auctions in the third quarter valued at $14,502,000. Finally, Iridian Asset Management LLC CT grew its position in ACV Auctions by 58.9% in the fourth quarter. Iridian Asset Management LLC CT now owns 2,989,152 shares of the company’s stock valued at $23,973,000 after purchasing an additional 1,108,301 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACVA stock opened at $5.65 on Monday. The stock has a market cap of $987.13 million, a P/E ratio of -16.15 and a beta of 1.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. The company has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $6.49. ACV Auctions Inc. has a one year low of $4.07 and a one year high of $17.16.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley Financial decreased their target price on shares of ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price target for the company. in a research note on Monday, June 1st. Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th. Finally, Barclays cut their price target on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, ACV Auctions has an average rating of “Hold” and a consensus target price of $10.14.

ACV Auctions Company Profile

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.