Illinois Municipal Retirement Fund Has $2.82 Million Position in Carvana Co. (NYSE:CVNA)

Illinois Municipal Retirement Fund cut its position in Carvana Co. (NYSE:CVNA) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,841 shares of the company’s stock after selling 2,785 shares during the period. Illinois Municipal Retirement Fund’s holdings in Carvana were worth $2,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC increased its position in shares of Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares in the last quarter. Forum Financial Management LP grew its stake in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Carvana by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock worth $5,657,000 after purchasing an additional 86 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after purchasing an additional 88 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Stock Down 3.9 %

NYSE:CVNA opened at $223.66 on Friday. Carvana Co. has a twelve month low of $67.61 and a twelve month high of $292.84. The firm has a market capitalization of $46.44 billion, a price-to-earnings ratio of 142.46 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock’s 50 day moving average price is $232.89 and its two-hundred day moving average price is $210.26.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the transaction, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. The trade was a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research reports. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Finally, DA Davidson lifted their price target on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $265.06.

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.