Transmarket Holdings LP purchased a new stake in shares of ACV Auctions Inc. (NYSE:ACVA – Free Report) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 269,404 shares of the company’s stock, valued at approximately $2,810,000. ACV Auctions comprises about 1.6% of Transmarket Holdings LP’s investment portfolio, making the stock its 14th largest holding.
A number of other hedge funds also recently modified their holdings of ACVA. Sterling Capital Management LLC grew its stake in shares of ACV Auctions by 200.1% in the third quarter. Sterling Capital Management LLC now owns 4,820 shares of the company’s stock worth $50,000 after purchasing an additional 3,214 shares during the last quarter. Versant Capital Management Inc increased its holdings in ACV Auctions by 28.8% in the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock valued at $44,000 after purchasing an additional 1,382 shares during the period. Allworth Financial LP raised its position in ACV Auctions by 316.8% during the 2nd quarter. Allworth Financial LP now owns 11,004 shares of the company’s stock worth $79,000 after purchasing an additional 8,364 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in ACV Auctions during the 2nd quarter worth $80,000. Finally, Chicago Partners Investment Group LLC bought a new position in ACV Auctions during the 1st quarter worth $52,000. Institutional investors and hedge funds own 88.55% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on ACVA shares. CJS Securities downgraded ACV Auctions from a “market outperform” rating to a “market perform” rating in a report on Tuesday, September 15th. Bank of America reissued an “underperform” rating on shares of ACV Auctions in a research note on Tuesday, August 11th. Wall Street Zen upgraded ACV Auctions to a “hold” rating in a research report on Saturday, October 17th. Northcoast Research lowered ACV Auctions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Finally, Barrington Research lowered ACV Auctions from an “outperform” rating to a “strong sell” rating in a research note on Friday, September 11th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.70.
View Our Latest Analysis on ACV Auctions
ACV Auctions Stock Performance
NYSE:ACVA opened at $10.50 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -29.17 and a beta of 1.76. The firm has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $7.13. ACV Auctions Inc. has a 12 month low of $4.07 and a 12 month high of $10.51.
ACV Auctions Profile
ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers of used vehicles, enabling auctions to be conducted online rather than through traditional physical auction facilities.
The company provides tools and services intended to support the wholesale vehicle lifecycle, including online auctions, vehicle condition reports, inspections, transportation and logistics coordination, and transaction-related services.
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