Dark Forest Capital Management LP Has $609,000 Stock Position in CarMax, Inc. (NYSE:KMX)

Dark Forest Capital Management LP increased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 117.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,450 shares of the company’s stock after buying an additional 4,027 shares during the quarter. Dark Forest Capital Management LP’s holdings in CarMax were worth $609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMX. Principal Financial Group Inc. increased its position in shares of CarMax by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after acquiring an additional 282,519 shares in the last quarter. Norges Bank bought a new position in CarMax during the 4th quarter worth about $423,187,000. Geode Capital Management LLC increased its holdings in CarMax by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock worth $302,564,000 after purchasing an additional 47,058 shares in the last quarter. Invesco Ltd. raised its stake in shares of CarMax by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,729,965 shares of the company’s stock valued at $223,202,000 after purchasing an additional 27,716 shares during the period. Finally, First Pacific Advisors LP lifted its holdings in shares of CarMax by 0.6% in the fourth quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock valued at $195,984,000 after purchasing an additional 13,487 shares in the last quarter.

CarMax Price Performance

NYSE:KMX opened at $65.04 on Friday. 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 12-month low of $61.67 and a 12-month high of $91.25. The stock’s 50 day moving average price is $74.28 and its two-hundred day moving average price is $78.44. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.67 and a beta of 1.58.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KMX shares. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Evercore ISI decreased their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of CarMax in a research report on Monday, April 21st. StockNews.com downgraded shares of CarMax from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Finally, Cfra Research raised shares of CarMax to a “strong-buy” rating in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.73.

Insider Activity at CarMax

In related news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now owns 227 shares in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell D. Steenrod acquired 1,300 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $65.49 per share, with a total value of $85,137.00. Following the completion of the transaction, the director now directly owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. The trade was a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.66% of the stock is owned by company insiders.

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.