Bleakley Financial Group LLC Increases Holdings in Carvana Co. (NYSE:CVNA)

Bleakley Financial Group LLC increased its stake in Carvana Co. (NYSE:CVNA) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,308 shares of the company’s stock after purchasing an additional 130 shares during the quarter. Bleakley Financial Group LLC’s holdings in Carvana were worth $402,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Empirical Asset Management LLC boosted its stake in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after buying an additional 100 shares during the period. CWM LLC boosted its stake in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares during the period. GAMMA Investing LLC boosted its stake in Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after buying an additional 150 shares during the period. Great Valley Advisor Group Inc. boosted its stake in Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after buying an additional 182 shares during the period. Finally, Sugarloaf Wealth Management LLC bought a new stake in Carvana during the third quarter worth about $32,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Up 3.1 %

Shares of NYSE:CVNA opened at $197.35 on Wednesday. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $198.09. The company has a market cap of $39.98 billion, a PE ratio of 86.56 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The stock’s 50-day moving average is $163.94 and its 200 day moving average is $130.27.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Sell-side analysts anticipate that Carvana Co. will post 0.29 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $130.52, for a total transaction of $9,789,000.00. Following the transaction, the insider now owns 1,790,814 shares in the company, valued at approximately $233,737,043.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carvana news, insider Daniel J. Gill sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider now owns 328,329 shares in the company, valued at approximately $57,457,575. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $130.52, for a total value of $9,789,000.00. Following the transaction, the insider now owns 1,790,814 shares in the company, valued at $233,737,043.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,759,366 shares of company stock worth $445,990,909 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVNA shares. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. Stephens started coverage on Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. BTIG Research lifted their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson lifted their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, TD Cowen lifted their price target on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Carvana has a consensus rating of “Hold” and a consensus price target of $177.88.

About Carvana

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.