Connor Clark & Lunn Investment Management Ltd. Has $7.84 Million Stake in ACV Auctions Inc. $ACVA

Connor Clark & Lunn Investment Management Ltd. boosted its stake in ACV Auctions Inc. (NASDAQ:ACVA) by 42.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 483,306 shares of the company’s stock after purchasing an additional 144,283 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.28% of ACV Auctions worth $7,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of ACV Auctions by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 15,301,225 shares of the company’s stock valued at $215,594,000 after acquiring an additional 1,055,310 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of ACV Auctions by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 11,109,706 shares of the company’s stock worth $180,199,000 after buying an additional 32,797 shares during the period. Massachusetts Financial Services Co. MA increased its stake in ACV Auctions by 6.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,084,830 shares of the company’s stock valued at $128,005,000 after purchasing an additional 510,680 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in ACV Auctions by 10.5% in the first quarter. Alliancebernstein L.P. now owns 6,214,362 shares of the company’s stock worth $87,560,000 after acquiring an additional 592,107 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of ACV Auctions by 2.6% in the second quarter. Jennison Associates LLC now owns 5,571,294 shares of the company’s stock valued at $90,366,000 after buying an additional 143,773 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Price Performance

Shares of ACV Auctions stock opened at $5.50 on Thursday. The business has a 50 day moving average of $9.26 and a 200 day moving average of $12.97. ACV Auctions Inc. has a 52 week low of $4.95 and a 52 week high of $23.46. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $946.07 million, a PE ratio of -11.22 and a beta of 1.63.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%.The company had revenue of $199.56 million for the quarter, compared to analysts’ expectations of $200.26 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts forecast that ACV Auctions Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ACVA shares. Needham & Company LLC cut their price objective on shares of ACV Auctions from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Jefferies Financial Group dropped their price target on ACV Auctions from $22.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Citigroup lowered their target price on shares of ACV Auctions from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. cut their price objective on shares of ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Barrington Research lowered ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.95.

Insider Activity at ACV Auctions

In related news, Director Robert P. Goodman bought 912,408 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $5.61 per share, for a total transaction of $5,118,608.88. Following the purchase, the director owned 912,408 shares in the company, valued at approximately $5,118,608.88. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

ACV Auctions 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.