GAMMA Investing LLC Has $106,000 Stock Position in Carvana Co. (NYSE:CVNA)

GAMMA Investing LLC increased its stake in shares of Carvana Co. (NYSE:CVNA) by 32.8% in the third quarter, Holdings Channel reports. The firm owned 608 shares of the company’s stock after buying an additional 150 shares during the quarter. GAMMA Investing LLC’s holdings in Carvana were worth $106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its holdings in Carvana by 16.6% during the third quarter. Handelsbanken Fonder AB now owns 27,400 shares of the company’s stock worth $4,771,000 after buying an additional 3,900 shares during the last quarter. SG Americas Securities LLC boosted its stake in Carvana by 804.0% during the 3rd quarter. SG Americas Securities LLC now owns 9,989 shares of the company’s stock worth $1,739,000 after acquiring an additional 8,884 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Carvana during the second quarter valued at approximately $37,728,000. Maven Securities LTD bought a new stake in Carvana in the second quarter valued at approximately $270,000. Finally, Senator Investment Group LP acquired a new stake in Carvana in the second quarter worth $63,767,000. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CVNA shares. TD Cowen upped their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Stephens began coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. Bank of America boosted their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Carvana in a report on Monday, September 9th. Finally, BTIG Research upped their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $171.76.

Carvana Stock Performance

CVNA opened at $192.25 on Monday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The business’s 50-day simple moving average is $157.06 and its 200 day simple moving average is $125.77. The firm has a market capitalization of $38.94 billion, a PE ratio of 84.32 and a beta of 3.44. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $194.75.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, sell-side analysts expect that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the transaction, the insider now directly owns 114,124 shares in the company, valued at $16,547,980. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the sale, the insider now directly owns 114,124 shares of the company’s stock, valued at $16,547,980. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $136.18, for a total value of $10,213,500.00. Following the transaction, the insider now directly owns 2,315,814 shares in the company, valued at $315,367,550.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,674,366 shares of company stock valued at $410,768,909. 17.12% of the stock is currently owned by corporate insiders.

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.