CWA Asset Management Group LLC Reduces Stock Position in CarMax, Inc. (NYSE:KMX)

CWA Asset Management Group LLC lessened its position in CarMax, Inc. (NYSE:KMX) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,810 shares of the company’s stock after selling 2,980 shares during the period. CWA Asset Management Group LLC’s holdings in CarMax were worth $2,011,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cromwell Holdings LLC increased its holdings in CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP grew its position in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after buying an additional 249 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of CarMax during the fourth quarter valued at approximately $53,000. Colonial Trust Co SC increased its stake in shares of CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock valued at $59,000 after buying an additional 693 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company’s stock valued at $73,000 after acquiring an additional 260 shares in the last quarter.

Insider Transactions at CarMax

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now directly owns 33,577 shares in the company, valued at approximately $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KMX shares. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of CarMax in a report on Wednesday. Evercore ISI dropped their target price on shares of CarMax from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Robert W. Baird decreased their price target on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.82.

CarMax Price Performance

Shares of NYSE KMX opened at $64.25 on Thursday. CarMax, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $91.25. The company has a 50 day simple moving average of $65.65 and a two-hundred day simple moving average of $75.71. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.07 and a beta of 1.38. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.52 and a current ratio of 2.31.

CarMax Company 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.