Royce & Associates LP grew its position in shares of ACV Auctions Inc. (NYSE:ACVA – Free Report) by 141.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,736,476 shares of the company’s stock after acquiring an additional 1,018,084 shares during the period. Royce & Associates LP’s holdings in ACV Auctions were worth $13,927,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock worth $27,000 after acquiring an additional 1,421 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in ACV Auctions by 298.4% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,323 shares of the company’s stock worth $33,000 after acquiring an additional 2,489 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of ACV Auctions by 38,076.9% in the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock valued at $40,000 after buying an additional 4,950 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of ACV Auctions by 12,979.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after buying an additional 5,711 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after buying an additional 1,649 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
ACV Auctions Price Performance
Shares of NYSE ACVA opened at $6.01 on Thursday. ACV Auctions Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $17.16. The business has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $6.47. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. The firm has a market cap of $1.05 billion, a PE ratio of -17.16 and a beta of 1.78.
Insiders Place Their Bets
In other ACV Auctions news, CEO George Chamoun acquired 24,272 shares of the stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the purchase, the chief executive officer directly owned 2,952,977 shares in the company, valued at $14,912,533.85. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research firms have recently issued reports on ACVA. Barclays lowered their target price on 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. Citigroup lowered ACV Auctions from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $7.00 in a research note on Tuesday, February 24th. B. Riley Financial lowered their target price on ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Wall Street Zen upgraded ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. Finally, The Goldman Sachs Group lowered their target price on ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.45.
View Our Latest Stock Analysis on ACV Auctions
About ACV Auctions
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.
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