Maverick Capital Ltd. Buys 3,405 Shares of CarMax, Inc. (NYSE:KMX)

Maverick Capital Ltd. raised its position in shares of CarMax, Inc. (NYSE:KMX) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,607 shares of the company’s stock after purchasing an additional 3,405 shares during the period. Maverick Capital Ltd.’s holdings in CarMax were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Community Trust NA purchased a new stake in shares of CarMax in the 2nd quarter worth approximately $29,000. Blue Trust Inc. boosted its position in CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares in the last quarter. Studio Investment Management LLC boosted its position in CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of CarMax during the 1st quarter worth $55,000. Finally, First Financial Corp IN boosted its position in CarMax by 127.2% during the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock valued at $91,000 after purchasing an additional 585 shares in the last quarter.

Insider Buying and Selling

In related news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock valued at $14,803,843 over the last ninety days. Company insiders own 1.66% of the company’s stock.

CarMax Price Performance

Shares of KMX opened at $78.17 on Friday. The business’s 50-day moving average is $79.76 and its two-hundred day moving average is $76.40. The company has a market capitalization of $12.20 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.56 and a beta of 1.69. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KMX shares. Argus upgraded shares of CarMax to a “hold” rating in a report on Tuesday, June 25th. Truist Financial boosted their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. StockNews.com raised shares of CarMax to a “sell” rating in a report on Friday, July 26th. Finally, Needham & Company LLC decreased their price objective on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.50.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.