MIG Capital LLC Takes $307,000 Position in Carvana Co. (NYSE:CVNA)

MIG Capital LLC bought a new position in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,508 shares of the company’s stock, valued at approximately $307,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares during the period. Geode Capital Management LLC boosted its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after acquiring an additional 75,250 shares during the period. State Street Corp grew its position in Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after acquiring an additional 107,610 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $179,364,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVNA. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a research report on Monday, March 31st. Royal Bank of Canada increased their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Citigroup raised their price objective on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.59.

Carvana Trading Down 10.6 %

Shares of NYSE CVNA opened at $162.54 on Friday. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a market cap of $34.65 billion, a price-to-earnings ratio of 103.53 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock’s 50 day simple moving average is $223.47 and its 200 day simple moving average is $219.36.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,810 shares of company stock worth $61,698,820. Insiders own 17.12% of the company’s stock.

Carvana 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.