Assetmark Inc. Sells 326,237 Shares of CarMax, Inc. $KMX

Assetmark Inc. lowered its position in CarMax, Inc. (NYSE:KMX) by 63.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 187,167 shares of the company’s stock after selling 326,237 shares during the period. Assetmark Inc. owned 0.13% of CarMax worth $7,782,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of KMX. Huntington National Bank boosted its position in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of CarMax in the 2nd quarter worth about $28,000. MUFG Securities EMEA plc bought a new position in shares of CarMax in the 2nd quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of CarMax in the 3rd quarter valued at about $32,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of CarMax in the 4th quarter valued at about $33,000.

Analyst Ratings Changes

Several brokerages have recently commented on KMX. Argus raised shares of CarMax to a “hold” rating in a research report on Thursday, April 16th. UBS Group boosted their target price on shares of CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. Evercore set a $45.00 target price on shares of CarMax in a research note on Friday, April 10th. Mizuho raised their price target on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Bank of America lifted their price target on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $47.73.

CarMax Stock Performance

KMX opened at $55.83 on Tuesday. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $63.74. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 1.85 and a beta of 1.17. The company’s fifty day moving average price is $48.07 and its two-hundred day moving average price is $44.69. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the company earned $1.38 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts expect that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter J. Bensen bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keith Barr acquired 9,400 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the purchase, the chief executive officer owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 13,900 shares of company stock valued at $735,574. Corporate insiders own 1.01% of the company’s stock.

CarMax Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.