ACV Auctions’ (ACVA) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a research report released on Monday,Benzinga reports. They currently have a $23.00 target price on the stock.

ACVA has been the subject of a number of other reports. Raymond James assumed coverage on ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective on the stock. JMP Securities lifted their target price on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group increased their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

ACV Auctions Price Performance

Shares of ACVA opened at $19.50 on Monday. The firm has a 50-day simple moving average of $19.01 and a two-hundred day simple moving average of $18.29. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $21.10. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $160.62 million during the quarter, compared to the consensus estimate of $156.33 million. ACV Auctions had a negative net margin of 14.53% and a negative return on equity of 13.20%. On average, analysts anticipate that ACV Auctions will post -0.35 EPS for the current year.

Insider Transactions at ACV Auctions

In related news, CEO George Chamoun sold 111,363 shares of ACV Auctions stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total value of $2,257,328.01. Following the completion of the transaction, the chief executive officer now owns 928,166 shares in the company, valued at $18,813,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO George Chamoun sold 111,363 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $20.27, for a total value of $2,257,328.01. Following the sale, the chief executive officer now directly owns 928,166 shares in the company, valued at approximately $18,813,924.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Waterman sold 18,001 shares of ACV Auctions stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total transaction of $338,238.79. Following the sale, the insider now directly owns 337,190 shares of the company’s stock, valued at approximately $6,335,800.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 709,426 shares of company stock valued at $13,792,090. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACV Auctions

Several hedge funds have recently added to or reduced their stakes in ACVA. Park Place Capital Corp lifted its position in shares of ACV Auctions by 34.1% during the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the last quarter. MCF Advisors LLC boosted its stake in ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock valued at $30,000 after acquiring an additional 765 shares in the last quarter. Amalgamated Bank grew its holdings in shares of ACV Auctions by 18.0% during the second 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. Blue Trust Inc. increased its position in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after purchasing an additional 884 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings 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 valued at $238,000 after purchasing an additional 1,626 shares during the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

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.