Riverbridge Partners LLC lessened its stake in ACV Auctions Inc. (NYSE:ACVA – Free Report) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,758,166 shares of the company’s stock after selling 81,287 shares during the quarter. Riverbridge Partners LLC’s holdings in ACV Auctions were worth $18,338,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sterling Capital Management LLC increased its stake in shares of ACV Auctions by 200.1% during the third quarter. Sterling Capital Management LLC now owns 4,820 shares of the company’s stock worth $50,000 after buying an additional 3,214 shares during the period. Versant Capital Management Inc raised 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 acquiring an additional 1,382 shares in the last quarter. Allworth Financial LP raised its holdings in ACV Auctions by 316.8% in the second quarter. Allworth Financial LP now owns 11,004 shares of the company’s stock valued at $79,000 after acquiring an additional 8,364 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in ACV Auctions in the second quarter valued at approximately $80,000. Finally, Chicago Partners Investment Group LLC purchased a new position in ACV Auctions in the first quarter worth approximately $52,000. 88.55% of the stock is owned by institutional investors and hedge funds.
ACV Auctions Stock Performance
ACVA opened at $10.50 on Wednesday. ACV Auctions Inc. has a one year low of $4.07 and a one year high of $10.51. The company has a market cap of $1.78 billion, a P/E ratio of -29.17 and a beta of 1.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.52 and a current ratio of 1.52. The business’s 50-day simple moving average is $9.98 and its 200-day simple moving average is $7.21.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Needham & Company LLC downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating in a research note on Friday, September 11th. Bank of America restated an “underperform” rating on shares of ACV Auctions in a report on Tuesday, August 11th. Citizens Jmp lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Citigroup lifted their price objective on shares of ACV Auctions from $8.50 to $10.50 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Finally, Barrington Research downgraded shares of ACV Auctions from an “outperform” rating to a “strong sell” rating in a research note on Friday, September 11th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ACV Auctions has an average rating of “Hold” and a consensus target price of $10.00.
Get Our Latest Stock Analysis on ACVA
ACV Auctions Company Profile
ACV Auctions operates a digital wholesale automotive marketplace that connects vehicle dealers and other commercial sellers with buyers. Its online auction platform enables dealers to purchase and sell used vehicles through live and timed auctions. The company supplements its marketplace with services intended to support wholesale transactions, including vehicle condition reports, transportation, title processing and financing solutions. These offerings help customers evaluate vehicles and manage the steps involved in buying and selling them.
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