Castle Hook Partners LP trimmed its holdings in Carvana Co. (NYSE:CVNA – Free Report) by 48.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 695,090 shares of the company’s stock after selling 657,176 shares during the quarter. Carvana comprises approximately 1.2% of Castle Hook Partners LP’s portfolio, making the stock its 7th biggest position. Castle Hook Partners LP owned approximately 0.32% of Carvana worth $293,342,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp boosted its holdings in shares of Carvana by 6.4% in the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after acquiring an additional 25 shares during the period. Finivi Inc. boosted its holdings in shares of Carvana by 4.6% in the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after acquiring an additional 31 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Carvana by 1.0% in the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after acquiring an additional 31 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after acquiring an additional 31 shares during the period. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Carvana by 4.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after acquiring an additional 32 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.
Key Carvana News
Here are the key news stories impacting Carvana this week:
- Positive Sentiment: Carvana is expanding into new vehicle sales, with seven new-vehicle franchises already acquired; investors may view this as a meaningful growth opportunity that broadens the company’s addressable market. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
- Positive Sentiment: Analyst commentary remains constructive, with price targets implying notable upside and recent estimate revisions suggesting Wall Street still sees earnings growth potential for CVNA. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
- Positive Sentiment: Several bullish articles argue Carvana’s turnaround is still intact, citing strong revenue growth, expanding margins, and operational efficiencies that could support further upside. Carvana: 40% Growth, Expanding Margins, And More Upside Ahead
- Neutral Sentiment: A director sold 15,000 shares, but the transaction was relatively modest versus the insider’s remaining stake and does not clearly indicate a major change in fundamentals. SEC Form 4 filing for Ira J. Platt
- Negative Sentiment: CarMax’s earnings report and commentary on continued low margins are weighing on sentiment for Carvana, since investors are extrapolating sector-wide pressure onto CVNA. Carvana Stock Falls As CarMax Warns Of Persistent Low Margins
- Negative Sentiment: Some commentary warns that the used-car market is softening and that credit-related risks could hurt margins and financing performance, which is fueling selling pressure in CVNA. CarMax Drops 7% Despite Earnings Beat, Carvana Tumbles 8% on Used-Car Margin, Credit Fears
- Negative Sentiment: Recent articles have also taken a skeptical view of Carvana’s turnaround story, arguing there may be hidden risks behind the bullish narrative. Carvana: The Turnaround Story Has A Hidden Trap
Wall Street Analysts Forecast Growth
View Our Latest Analysis on CVNA
Carvana Price Performance
Carvana stock opened at $62.82 on Thursday. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The business has a 50 day simple moving average of $71.47 and a 200-day simple moving average of $75.19. The stock has a market capitalization of $68.91 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 11.82 and a beta of 3.45.
Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Equities analysts predict that Carvana Co. will post 1.58 earnings per share for the current year.
Insider Buying and Selling at Carvana
In other Carvana news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.40, for a total value of $4,488,000.00. Following the completion of the transaction, the chief financial officer owned 1,036,594 shares of the company’s stock, valued at $72,976,217.60. The trade was a 5.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 415,812 shares of company stock valued at $29,056,896. Corporate insiders own 15.19% of the company’s stock.
Carvana Company Profile
Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.
Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.
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