Carvana Co. $CVNA Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 90.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the company’s stock after selling 9,900 shares during the period. Quinn Opportunity Partners LLC’s holdings in Carvana were worth $337,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Carvana in the first quarter valued at $71,856,000. KBC Group NV raised its stake in Carvana by 1,988.7% in the second quarter. KBC Group NV now owns 323,662 shares of the company’s stock valued at $109,061,000 after buying an additional 308,166 shares in the last quarter. Finally, Contour Asset Management LLC raised its stake in Carvana by 71.4% in the first quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after buying an additional 267,994 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Up 0.3%

Shares of NYSE CVNA opened at $327.74 on Thursday. The stock has a market capitalization of $71.30 billion, a price-to-earnings ratio of 74.83, a price-to-earnings-growth ratio of 1.18 and a beta of 3.50. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The firm has a 50-day moving average price of $354.03 and a 200 day moving average price of $336.56. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider directly owned 115,456 shares in the company, valued at $34,830,766.08. This represents a 21.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the completion of the transaction, the insider owned 83,018 shares in the company, valued at approximately $31,131,750. This trade represents a 15.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 436,452 shares of company stock worth $158,184,083. 17.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVNA shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a research report on Thursday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 price target on shares of Carvana in a research note on Thursday, October 30th. Stephens restated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research report on Tuesday, September 23rd. Barclays initiated coverage on shares of Carvana in a research report on Tuesday. They issued an “overweight” rating and a $390.00 target price on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $460.00 price target on shares of Carvana in a research report on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $414.16.

Carvana Company Profile

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.