Amalgamated Bank lowers stake in CarMax, Inc. (NYSE:KMX)

VaselineSeptember 23, 2024

0 4 minutes read

Amalgamated Bank reduced its position in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,266 shares of the company’s stock after selling 3,225 shares during the period. Amalgamated Bank’s holdings in CarMax were worth $3,760,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of KMX. Argent Trust Co boosted its holdings in CarMax by 22.3% in the second quarter. Argent Trust Co now owns 31,509 shares of the company’s stock valued at $2,311,000 after buying an additional 5,739 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CarMax by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after purchasing an additional 51,397 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of CarMax by 21.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after purchasing an additional 288,165 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of CarMax by 8.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company’s stock valued at $509,000 after acquiring an additional 547 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of CarMax during the second quarter valued at about $227,000.

Insider transactions at CarMax

In related news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news, CEO William D. Nash sold 120,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the sale, the senior vice president now directly owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold a total of 185,243 shares of company stock worth $14,893,042. 1.66% of shares are currently owned by company insiders.

CarMax trading down 1.7%

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NYSE:KMX opened at $76.10 on Monday. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60, and a debt-to-equity ratio of 2.95. The stock’s 50-day simple moving average is $80.26 and its 200-day simple moving average is $76.46. The firm has a market cap of $11.88 billion, a P/E ratio of 29.73, a PEG ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX – Get Your Free Report ) last announced its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. CarMax’s revenue was down 7.5% from the same quarter last year. During the same period in the previous year, the company posted EPS of $1.16. Equities analysts anticipate that CarMax, Inc. will show 2.99 EPS for the current year.

Analysts on Wall Street are forecasting an increase

A number of brokerages have recently issued reports on KMX. Truist Financial upped their target price on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, June 24th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a report on Monday, June 24th. JPMorgan Chase & Co. raised their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday. Needham & Company LLC decreased their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Finally, Argus upgraded CarMax to a “hold” rating in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.08, according to MarketBeat.

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About CarMax

(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 wide range of pre-owned vehicle makes and models, including domestic, import and luxury vehicles, as well as hybrid and electric vehicles; second-hand vehicle auctions; extended customer protection plans at the time of sale; and car reconditioning and repair services.