Carvana Co. (NYSE:CVNA) Position Increased by SG Americas Securities LLC

Posted by on Apr 29th, 2023

SG Americas Securities LLC lifted its position in Carvana Co. (NYSE:CVNA – Get Rating) by 3,370.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,006 shares of the company’s stock after acquiring an additional 194,243 shares during the period. SG Americas Securities LLC owned about 0.11% of Carvana worth $948,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Signaturefd LLC boosted its position in Carvana by 39.6% during the 4th quarter. Signaturefd LLC now owns 5,332 shares of the company’s stock worth $25,000 after acquiring an additional 1,512 shares during the period. Captrust Financial Advisors grew its holdings in shares of Carvana by 270.9% during the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after acquiring an additional 967 shares in the last quarter. CWM LLC increased its stake in shares of Carvana by 150.6% in the third quarter. CWM LLC now owns 1,531 shares of the company’s stock worth $31,000 after acquiring an additional 920 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Carvana during the fourth quarter worth $49,000. Finally, 1832 Asset Management L.P. acquired a new stake in Carvana during the first quarter valued at $59,000. Hedge funds and other institutional investors own 63.62% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price target on shares of Carvana in a research note on Friday, March 3rd. Piper Sandler reduced their target price on shares of Carvana from $45.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 16th. DA Davidson increased their price target on shares of Carvana from $5.00 to $7.00 in a research note on Tuesday, February 21st. Evercore ISI lifted their price objective on shares of Carvana from $9.00 to $10.00 in a research note on Thursday, March 23rd. Finally, Wedbush reissued an “underperform” rating on shares of Carvana in a research report on Friday, February 24th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.05.

Carvana Stock Performance

NYSE CVNA opened at $6.94 on Friday. The company’s fifty day moving average is $8.58 and its two-hundred day moving average is $8.93. Carvana Co. has a 52-week low of $3.55 and a 52-week high of $68.96. The company has a debt-to-equity ratio of 17.69, a current ratio of 1.77 and a quick ratio of 1.05. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -0.45 and a beta of 2.83.

Carvana (NYSE:CVNA – Get Rating) last released its earnings results on Thursday, February 23rd. The company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($2.30) by $1.33. Carvana had a negative net margin of 11.67% and a negative return on equity of 1,491.81%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Equities research analysts forecast that Carvana Co. will post -7.02 EPS for the current year.

Carvana Company Profile

(Get Rating)

Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.

Featured Stories

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.