CarMax (NYSE:KMX) Sees Unusually-High Trading Volume

CarMax, Inc. (NYSE:KMX) saw unusually-strong trading volume on Thursday . Approximately 1,421,759 shares changed hands during trading, a decline of 26% from the previous session’s volume of 1,920,987 shares.The stock last traded at $76.76 and had previously closed at $74.49.

Analysts Set New Price Targets

A number of research analysts have issued reports on KMX shares. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Mizuho reduced their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Royal Bank of Canada upped their target price 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. Finally, Truist Financial upped their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average target price of $77.50.

CarMax Stock Up 6.1 %

The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The firm has a market cap of $12.33 billion, a P/E ratio of 31.08, a PEG ratio of 1.56 and a beta of 1.69. The company’s 50 day simple moving average is $79.84 and its 200-day simple moving average is $76.38.

Insider Buying and Selling at CarMax

In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total transaction of $777,680.28. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,690,899.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,690,899.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred 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 transaction, 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. In the last 90 days, insiders have sold 184,012 shares of company stock worth $14,803,843. Company insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

Hedge funds and other institutional investors have recently modified their holdings of the company. Vulcan Value Partners LLC grew its position in shares of CarMax by 299.7% during the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after purchasing an additional 1,369,986 shares in the last quarter. Morningstar Investment Services LLC grew its position in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of CarMax by 1,327.3% during the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after purchasing an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. grew its position in shares of CarMax by 3,094.0% during the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after purchasing an additional 577,685 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of CarMax by 87.6% during the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after purchasing an additional 541,967 shares in the last quarter.

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.