CIBC Private Wealth Group LLC Buys 192,694 Shares of ACV Auctions Inc. $ACVA

CIBC Private Wealth Group LLC boosted its position in ACV Auctions Inc. (NYSE:ACVA) by 78.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 437,781 shares of the company’s stock after buying an additional 192,694 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.25% of ACV Auctions worth $4,338,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ACVA. Wasatch Advisors LP increased its position in ACV Auctions by 301.0% during the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after acquiring an additional 5,475,874 shares during the period. SG Capital Management LLC bought a new stake in shares of ACV Auctions in the 3rd quarter worth approximately $17,103,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of ACV Auctions by 30.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock worth $62,803,000 after purchasing an additional 1,475,932 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new stake in shares of ACV Auctions during the 3rd quarter worth approximately $14,502,000. Finally, Atreides Management LP increased its position in shares of ACV Auctions by 17.4% during the third quarter. Atreides Management LP now owns 5,510,790 shares of the company’s stock valued at $54,612,000 after purchasing an additional 816,556 shares during the period. 88.55% of the stock is owned by institutional investors.

ACV Auctions Stock Down 1.0%

Shares of NYSE:ACVA opened at $4.68 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market cap of $815.34 million, a price-to-earnings ratio of -12.33 and a beta of 1.69. The company has a 50 day moving average of $6.65 and a 200-day moving average of $7.93. ACV Auctions Inc. has a one year low of $4.45 and a one year high of $17.54.

ACV Auctions (NYSE:ACVA) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 8.71% and a negative return on equity of 6.17%. The company had revenue of $183.65 million during the quarter, compared to the consensus estimate of $181.96 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ACVA. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of ACV Auctions in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a report on Monday, December 29th. Barclays decreased their target price on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 24th. Finally, CJS Securities raised shares of ACV Auctions to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.45.

Insider Buying and Selling

In other ACV Auctions news, CEO George Chamoun bought 24,272 shares of ACV Auctions stock in a transaction on Monday, March 9th. The shares were purchased at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the acquisition, the chief executive officer owned 2,952,977 shares in the company, valued at approximately $14,912,533.85. The trade was a 0.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

ACV Auctions Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.