Quinn Opportunity Partners LLC Trims Holdings in Carvana Co. $CVNA

Quinn Opportunity Partners LLC lessened its holdings in Carvana Co. (NYSE:CVNA) by 90.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,000 shares of the company’s stock after selling 9,900 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Carvana were worth $337,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Carvana in the first quarter worth approximately $71,856,000. KBC Group NV raised its stake in Carvana by 1,988.7% during the 2nd quarter. KBC Group NV now owns 323,662 shares of the company’s stock valued at $109,061,000 after purchasing an additional 308,166 shares during the period. Finally, Contour Asset Management LLC lifted its stake in Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after purchasing an additional 267,994 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CVNA shares. Needham & Company LLC restated a “buy” rating and set a $500.00 target price on shares of Carvana in a research report on Thursday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $460.00 target price on shares of Carvana in a research report on Thursday, October 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Carvana in a research note on Thursday, October 30th. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Stephens reiterated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $414.16.

Carvana Stock Up 0.3%

NYSE CVNA opened at $327.74 on Thursday. The business has a fifty day moving average price of $354.03 and a 200 day moving average price of $336.56. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company has a market cap of $71.30 billion, a P/E ratio of 74.83, a P/E/G ratio of 1.18 and a beta of 3.50. Carvana Co. has a one year low of $148.25 and a one year high of $413.33.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the previous year, the company earned $0.64 EPS. Carvana’s quarterly revenue was up 54.5% compared to the same quarter last year. Research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $324.57, for a total transaction of $3,245,700.00. Following the transaction, the chief operating officer owned 101,977 shares in the company, valued at $33,098,674.89. The trade was a 8.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory B. Sullivan sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total transaction of $850,000.00. Following the completion of the sale, the director directly owned 39,428 shares of the company’s stock, valued at $13,405,520. This represents a 5.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 436,452 shares of company stock worth $158,184,083. 17.12% of the stock is currently owned by company insiders.

Carvana Profile

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.