26,900 Shares in Carvana Co. (CVNA) Acquired by California State Teachers Retirement System

California State Teachers Retirement System acquired a new position in Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 26,900 shares of the company’s stock, valued at approximately $551,000. California State Teachers Retirement System owned about 0.17% of Carvana at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVNA. Royal Bank of Canada acquired a new stake in Carvana during the 2nd quarter worth $15,354,000. Schwab Charles Investment Management Inc. acquired a new stake in Carvana during the 2nd quarter worth $508,000. Principal Financial Group Inc. acquired a new stake in Carvana during the 2nd quarter worth $14,998,000. B. Riley Financial Inc. acquired a new stake in Carvana during the 2nd quarter worth $1,100,000. Finally, FMR LLC acquired a new stake in Carvana during the 2nd quarter worth $26,992,000. Hedge funds and other institutional investors own 15.20% of the company’s stock.

A number of analysts have commented on CVNA shares. Zacks Investment Research lowered shares of Carvana from a “buy” rating to a “sell” rating in a report on Thursday, November 2nd. B. Riley started coverage on shares of Carvana in a report on Friday, September 22nd. They issued a “sell” rating and a $12.00 price target for the company. Barrington Research started coverage on shares of Carvana in a report on Friday, October 27th. They issued a “market perform” rating for the company. Robert W. Baird reissued an “outperform” rating and issued a $22.00 price target on shares of Carvana in a report on Thursday, September 7th. Finally, BMO Capital Markets decreased their price target on shares of Carvana from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.77.

Shares of Carvana Co. (NYSE CVNA) traded up $0.22 during midday trading on Wednesday, reaching $20.43. 453,100 shares of the company were exchanged, compared to its average volume of 755,432. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.50 and a quick ratio of 0.71. Carvana Co. has a 12-month low of $8.14 and a 12-month high of $23.70.

Carvana (NYSE:CVNA) last announced its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. sell-side analysts expect that Carvana Co. will post -1.19 earnings per share for the current year.

WARNING: This piece was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2017/12/06/26900-shares-in-carvana-co-cvna-acquired-by-california-state-teachers-retirement-system.html.

Carvana Company Profile

Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNA).

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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

Leave a Reply