Arrowstreet Capital Limited Partnership Takes Position in CarMax, Inc. (NYSE:KMX)

Arrowstreet Capital Limited Partnership bought a new stake in shares of CarMax, Inc. (NYSE:KMX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 228,846 shares of the company’s stock, valued at approximately $18,710,000.

A number of other hedge funds also recently modified their holdings of the stock. Public Sector Pension Investment Board raised its stake in CarMax by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 6,753 shares of the company’s stock worth $523,000 after acquiring an additional 800 shares in the last quarter. Centiva Capital LP acquired a new position in CarMax during the 3rd quarter worth approximately $559,000. Investment Management Corp of Ontario lifted its stake in CarMax by 48.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 5,193 shares of the company’s stock valued at $402,000 after purchasing an additional 1,700 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in CarMax by 2.6% in the third quarter. Royal London Asset Management Ltd. now owns 64,489 shares of the company’s stock valued at $4,990,000 after buying an additional 1,646 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of CarMax by 181.1% in the 3rd quarter. Quarry LP now owns 1,175 shares of the company’s stock valued at $91,000 after acquiring an additional 757 shares during the last quarter.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares in the company, valued at $765,288. The trade was a 57.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now owns 227 shares of the company’s stock, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,723 shares of company stock valued at $2,925,218 in the last three months. 1.66% of the stock is currently owned by insiders.

CarMax Stock Down 1.0 %

KMX stock opened at $75.66 on Friday. The firm has a market capitalization of $11.64 billion, a PE ratio of 25.65, a P/E/G ratio of 1.67 and a beta of 1.76. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The stock’s 50 day moving average is $80.26 and its 200-day moving average is $79.32.

Wall Street Analyst Weigh In

KMX has been the subject of several research reports. Needham & Company LLC increased their target price on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Finally, StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.64.

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.