GAMMA Investing LLC Increases Stock Position in CarMax, Inc. (NYSE:KMX)

GAMMA Investing LLC grew its holdings in shares of CarMax, Inc. (NYSE:KMX) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,878 shares of the company’s stock after buying an additional 740 shares during the period. GAMMA Investing LLC’s holdings in CarMax were worth $481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP boosted its stake in CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax in the 3rd quarter worth approximately $32,000. True Wealth Design LLC grew its stake in shares of CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after buying an additional 436 shares during the last quarter. Studio Investment Management LLC increased 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 buying an additional 334 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in CarMax by 91.9% during the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after buying an additional 353 shares during the last quarter.

CarMax Trading Down 1.4 %

Shares of NYSE:KMX opened at $80.07 on Monday. The stock’s 50-day simple moving average is $80.97 and its two-hundred day simple moving average is $78.63. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.74 and a beta of 1.71. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. Analysts expect that CarMax, Inc. will post 3.01 EPS for the current year.

Insider Transactions at CarMax

In other news, CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mohammad Shamim sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.77, for a total transaction of $837,700.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $983,292.26. This represents a 46.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,744 shares of company stock worth $18,990,227 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on KMX. Needham & Company LLC increased their target price on CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Evercore ISI lifted their target price on shares of CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Wedbush reissued an “outperform” rating and set a $95.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price objective on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.17.

About CarMax

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.