Turtle Creek Asset Management Inc. boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,590,071 shares of the company's stock after purchasing an additional 56,906 shares during the quarter. CarMax comprises approximately 5.5% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 5th largest position. Turtle Creek Asset Management Inc. owned about 1.68% of CarMax worth $211,764,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH acquired a new position in CarMax in the 4th quarter valued at $1,131,000. Rafferty Asset Management LLC increased its stake in shares of CarMax by 2.7% in the 4th quarter. Rafferty Asset Management LLC now owns 22,123 shares of the company's stock worth $1,809,000 after acquiring an additional 580 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of CarMax in the 4th quarter worth $976,000. ProShare Advisors LLC increased its stake in shares of CarMax by 76.2% in the 4th quarter. ProShare Advisors LLC now owns 34,695 shares of the company's stock worth $2,837,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of CarMax by 125.6% in the 4th quarter. Quantinno Capital Management LP now owns 19,707 shares of the company's stock worth $1,611,000 after acquiring an additional 10,973 shares during the last quarter.
Insider Activity at CarMax
In other news, Director Mitchell D. Steenrod bought 1,300 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the acquisition, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
KMX has been the subject of a number of recent research reports. Cfra Research raised CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Needham & Company LLC cut their target price on CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of CarMax in a research note on Monday. Finally, Royal Bank of Canada reaffirmed an "underperform" rating on shares of CarMax in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CarMax has an average rating of "Hold" and an average target price of $87.73.
Check Out Our Latest Stock Analysis on KMX
CarMax Trading Down 5.2%
Shares of NYSE KMX traded down $3.48 during mid-day trading on Wednesday, reaching $63.30. 3,209,109 shares of the company's stock were exchanged, compared to its average volume of 2,168,349. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.67 and a beta of 1.45. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax, Inc. has a 52-week low of $61.67 and a 52-week high of $91.25. The company's 50-day moving average is $69.90 and its 200-day moving average is $77.74.
CarMax Company Profile
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Free Report)
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.
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