Studio Investment Management LLC Purchases 334 Shares of CarMax, Inc. (NYSE:KMX)

Studio Investment Management LLC boosted its position in shares of CarMax, Inc. (NYSE:KMX) by 176.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 523 shares of the company’s stock after purchasing an additional 334 shares during the period. Studio Investment Management LLC’s holdings in CarMax were worth $38,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Community Trust NA bought a new position in CarMax in the 2nd quarter worth about $29,000. Blue Trust Inc. grew its stake in CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Headlands Technologies LLC bought a new position in CarMax in the 1st quarter worth about $55,000. First Financial Corp IN grew its stake in CarMax by 127.2% in the 1st quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock worth $91,000 after acquiring an additional 585 shares in the last quarter. Finally, Concord Wealth Partners grew its stake in CarMax by 122.6% in the 1st quarter. Concord Wealth Partners now owns 1,282 shares of the company’s stock worth $112,000 after acquiring an additional 706 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KMX. Mizuho lowered their price target on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research report on Monday, June 24th. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Finally, Royal Bank of Canada upped their price target on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research 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 issued a buy rating to the company. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average price target of $76.25.

Insiders Place Their Bets

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,243 shares of company stock valued at $14,893,042. Insiders own 1.66% of the company’s stock.

CarMax Trading Down 3.2 %

NYSE:KMX opened at $75.20 on Thursday. The firm has a 50 day moving average of $79.93 and a 200 day moving average of $76.50. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.62 and a beta of 1.69. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

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.