GAMMA Investing LLC Buys 1,553 Shares of CarMax, Inc. (NYSE:KMX)

GAMMA Investing LLC increased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 72.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,709 shares of the company’s stock after buying an additional 1,553 shares during the quarter. GAMMA Investing LLC’s holdings in CarMax were worth $272,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its position in CarMax by 1.0% in the fourth quarter. Arizona State Retirement System now owns 43,608 shares of the company’s stock valued at $3,346,000 after purchasing an additional 446 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CarMax during the 4th quarter worth $9,420,000. Allworth Financial LP increased its holdings in CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the period. Stratos Wealth Advisors LLC acquired a new position in CarMax during the fourth quarter valued at approximately $326,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of CarMax by 4.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 30,541 shares of the company’s stock worth $2,362,000 after buying an additional 1,428 shares during the last quarter.

CarMax Price Performance

NYSE:KMX traded down $3.68 during trading hours on Monday, hitting $74.70. The stock had a trading volume of 2,442,153 shares, compared to its average volume of 1,987,665. The company has a 50 day simple moving average of $74.84 and a two-hundred day simple moving average of $74.90. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 1.66 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22.

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

Insider Activity

In other news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William D. Nash sold 120,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,243 shares of company stock valued at $14,893,042. Insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

KMX has been the topic of several recent research reports. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. lowered their target price on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Truist Financial lifted their price objective on shares of CarMax from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, June 24th. StockNews.com raised CarMax to a “sell” rating in a research report on Friday, July 26th. Finally, Evercore ISI increased their target price on shares of CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.25.

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.