MIG Capital LLC Acquires Shares of 1,508 Carvana Co. (NYSE:CVNA)

MIG Capital LLC bought a new position in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,508 shares of the company’s stock, valued at approximately $307,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Carvana by 22.2% in the fourth quarter. Russell Investments Group Ltd. now owns 31,293 shares of the company’s stock valued at $6,391,000 after purchasing an additional 5,687 shares during the period. Envestnet Asset Management Inc. increased its stake in Carvana by 2.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,242 shares of the company’s stock valued at $7,167,000 after buying an additional 810 shares during the period. Aviva PLC purchased a new position in Carvana during the 4th quarter worth $304,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Carvana in the 4th quarter worth $6,554,000. Finally, Prudential PLC purchased a new stake in shares of Carvana in the fourth quarter valued at about $374,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,810 shares of company stock valued at $61,698,820. Company insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada lifted their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a report on Monday, March 31st. Finally, Citigroup raised their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average target price of $258.59.

Carvana Price Performance

Shares of NYSE:CVNA opened at $162.54 on Friday. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The stock has a market cap of $34.65 billion, a PE ratio of 103.53 and a beta of 3.61. The business’s fifty day moving average price is $223.47 and its two-hundred day moving average price is $219.36. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.