Aristeia Capital L.L.C. Makes New Investment in Carvana Co. (NYSE:CVNA)

Aristeia Capital L.L.C. bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,091 shares of the company’s stock, valued at approximately $527,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Carvana by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after buying an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the period. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the period. First Trust Advisors LP grew its holdings in Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares during the period. Finally, Goodnow Investment Group LLC increased its stake in Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Up 0.8 %

Carvana stock opened at $175.25 on Tuesday. The company has a market cap of $35.50 billion, a price-to-earnings ratio of 76.86 and a beta of 3.43. The firm has a 50-day moving average of $143.77 and a 200-day moving average of $116.28. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana Co. has a one year low of $25.09 and a one year high of $176.33.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, equities analysts expect that Carvana Co. will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the transaction, the insider now directly owns 690,814 shares in the company, valued at $102,710,225.52. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total value of $9,522,750.00. Following the completion of the sale, the insider now directly owns 787,500 shares of the company’s stock, valued at $99,988,875. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the transaction, the insider now owns 690,814 shares of the company’s stock, valued at $102,710,225.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,566,866 shares of company stock valued at $359,233,684. 17.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. DA Davidson lifted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. TD Cowen lifted their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Stephens assumed coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. Bank of America reiterated a “buy” rating and set a $185.00 price objective on shares of Carvana in a report on Tuesday, September 17th. Finally, Needham & Company LLC increased their target price on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana has a consensus rating of “Hold” and an average target price of $153.88.

Carvana Company 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.