SG Americas Securities LLC Acquires 51,318 Shares of ACV Auctions Inc. (NASDAQ:ACVA)

SG Americas Securities LLC increased its stake in shares of ACV Auctions Inc. (NASDAQ:ACVA) by 915.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,923 shares of the company’s stock after acquiring an additional 51,318 shares during the quarter. SG Americas Securities LLC’s holdings in ACV Auctions were worth $1,157,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Amalgamated Bank grew its position in ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after purchasing an additional 782 shares during the last quarter. UMB Bank n.a. bought a new position in ACV Auctions during the first quarter valued at about $114,000. Public Employees Retirement Association of Colorado acquired a new position in ACV Auctions in the 2nd quarter valued at approximately $225,000. Blair William & Co. IL lifted its position in shares of ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after acquiring an additional 1,626 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of ACV Auctions during the 2nd quarter worth approximately $271,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Trading Down 3.7 %

ACVA stock opened at $18.05 on Friday. The business has a fifty day moving average price of $18.85 and a 200 day moving average price of $18.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. ACV Auctions Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $21.10. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -37.60 and a beta of 1.56.

ACV Auctions (NASDAQ:ACVA) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. The company had revenue of $160.62 million during the quarter, compared to analyst estimates of $156.33 million. Analysts expect that ACV Auctions Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael Waterman sold 16,098 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.95, for a total value of $321,155.10. Following the transaction, the insider now owns 348,155 shares in the company, valued at $6,945,692.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ACV Auctions news, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00. Following the completion of the sale, the chief financial officer now owns 503,077 shares of the company’s stock, valued at approximately $7,641,739.63. The trade was 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, insider Michael Waterman sold 16,098 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.95, for a total transaction of $321,155.10. Following the sale, the insider now owns 348,155 shares of the company’s stock, valued at $6,945,692.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 691,425 shares of company stock valued at $13,336,852. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

ACVA has been the subject of a number of recent research reports. JMP Securities upped their target price on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Raymond James initiated coverage on shares of ACV Auctions in a report on Friday, September 27th. They set a “market perform” rating and a $22.00 price objective for the company. Finally, Barrington Research reissued an “outperform” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.57.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.