LRI Investments LLC Buys Shares of 124 Carvana Co. $CVNA

LRI Investments LLC bought a new stake in Carvana Co. (NYSE:CVNA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 124 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in Carvana in the second quarter valued at approximately $25,000. SJS Investment Consulting Inc. lifted its stake in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. Brooklyn Investment Group grew its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter valued at approximately $33,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Carvana in the second quarter valued at approximately $83,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total transaction of $3,892,700.00. Following the sale, the chief operating officer owned 103,197 shares in the company, valued at $40,171,496.19. The trade was a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total transaction of $4,963,192.50. Following the sale, the chief financial officer owned 207,362 shares in the company, valued at $80,719,805.74. This represents a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,838,292 shares of company stock valued at $664,602,807 in the last 90 days. 16.36% of the stock is currently owned by corporate insiders.

Carvana Trading Up 2.9%

Shares of Carvana stock opened at $338.77 on Tuesday. The company’s fifty day simple moving average is $364.73 and its 200-day simple moving average is $317.04. The company has a market cap of $72.90 billion, a price-to-earnings ratio of 84.91, a PEG ratio of 1.07 and a beta of 3.55. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) earnings per share. As a group, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVNA. Gordon Haskett began coverage on shares of Carvana in a research report on Monday, July 14th. They issued a “hold” rating and a $329.00 price target on the stock. Wall Street Zen raised shares of Carvana from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America lifted their price target on shares of Carvana from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. BTIG Research reissued a “buy” rating and issued a $450.00 price target on shares of Carvana in a research report on Friday. Finally, Stephens reissued an “overweight” rating and issued a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $407.44.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.