CarMax Target of Unusually High Options Trading (NYSE:KMX)

CarMax, Inc. (NYSE:KMX) was the target of unusually large options trading on Friday. Stock traders acquired 7,378 call options on the stock. This is an increase of 133% compared to the typical volume of 3,165 call options.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.67 during trading on Friday, reaching $67.12. The stock had a trading volume of 1,771,301 shares, compared to its average volume of 2,118,763. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The stock has a fifty day simple moving average of $78.93 and a two-hundred day simple moving average of $79.20. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.67 and a beta of 1.58. CarMax has a 52 week low of $63.23 and a 52 week high of $91.25.

Insider Transactions at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now owns 9,448 shares in the company, valued at $765,288. This represents a 57.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,878 shares of company stock valued at $1,872,699 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in CarMax in the 4th quarter worth approximately $423,187,000. Kovitz Investment Group Partners LLC boosted its position in shares of CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after acquiring an additional 5,122,850 shares during the period. AQR Capital Management LLC increased its position in CarMax by 82.9% during the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock worth $114,465,000 after acquiring an additional 634,390 shares during the period. GAMMA Investing LLC raised its stake in CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company’s stock valued at $40,193,000 after purchasing an additional 509,952 shares during the last quarter. Finally, ThornTree Capital Partners LP acquired a new position in CarMax during the 4th quarter valued at $35,612,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Needham & Company LLC reduced their target price on CarMax from $101.00 to $92.00 and set a “buy” rating for the company in a report on Friday. Truist Financial raised their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada decreased their price target on shares of CarMax from $103.00 to $80.00 and set an “outperform” rating for the company in a report on Friday. Finally, Robert W. Baird dropped their price objective on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.73.

About CarMax

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 range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.