Eqis Capital Management Inc. Lowers Stock Position in CarMax, Inc. (NYSE:KMX)

Eqis Capital Management Inc. reduced its stake in CarMax, Inc. (NYSE:KMX) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,517 shares of the company’s stock after selling 543 shares during the quarter. Eqis Capital Management Inc.’s holdings in CarMax were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameritas Investment Company LLC purchased a new position in shares of CarMax during the first quarter worth approximately $26,000. Arkadios Wealth Advisors grew its holdings in shares of CarMax by 364.4% in the second quarter. Arkadios Wealth Advisors now owns 209 shares of the company’s stock worth $26,000 after purchasing an additional 164 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of CarMax in the first quarter worth approximately $33,000. E Fund Management Co. Ltd. bought a new position in shares of CarMax in the first quarter worth approximately $38,000. Finally, Private Ocean LLC grew its holdings in shares of CarMax by 9,433.3% in the second quarter. Private Ocean LLC now owns 286 shares of the company’s stock worth $37,000 after purchasing an additional 283 shares during the last quarter. 95.40% of the stock is currently owned by institutional investors and hedge funds.

In other news, CMO James Lyski sold 63,129 shares of CarMax stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $139.54, for a total value of $8,809,020.66. Following the completion of the transaction, the chief marketing officer now owns 79,084 shares of the company’s stock, valued at approximately $11,035,381.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Charles Joseph Wilson sold 20,599 shares of the business’s stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $129.86, for a total value of $2,674,986.14. Following the completion of the transaction, the senior vice president now directly owns 34,747 shares of the company’s stock, valued at approximately $4,512,245.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 323,968 shares of company stock valued at $43,163,413. 1.76% of the stock is owned by insiders.

Shares of KMX stock opened at $144.42 on Friday. CarMax, Inc. has a 12 month low of $84.70 and a 12 month high of $144.84. The stock has a market cap of $23.53 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.04 and a beta of 1.61. The company has a current ratio of 2.24, a quick ratio of 0.69 and a debt-to-equity ratio of 3.22. The company’s fifty day moving average price is $132.32 and its 200-day moving average price is $128.44.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, June 24th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.00. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $6.22 billion. CarMax had a return on equity of 27.44% and a net margin of 5.03%. CarMax’s quarterly revenue was up 138.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, sell-side analysts forecast that CarMax, Inc. will post 7.49 earnings per share for the current fiscal year.

KMX has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on shares of CarMax from $148.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, June 28th. Robert W. Baird lifted their price target on shares of CarMax from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, June 28th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating and set a $147.00 price target on the stock. in a report on Monday, September 20th. JPMorgan Chase & Co. lifted their price target on shares of CarMax from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, June 28th. Finally, Stephens lifted their price target on shares of CarMax from $154.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, June 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $135.50.

CarMax Company Profile

CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment comprises of all aspects of its auto merchandising and service operations.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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