Assetmark Inc. Has $12.50 Million Stake in CarMax, Inc. (NYSE:KMX)

Assetmark Inc. raised its position in CarMax, Inc. (NYSE:KMX) by 10,821.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 152,902 shares of the company’s stock after purchasing an additional 151,502 shares during the period. Assetmark Inc. owned 0.10% of CarMax worth $12,501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of CarMax in the 3rd quarter worth approximately $32,000. True Wealth Design LLC lifted its position in shares of CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after purchasing an additional 436 shares during the period. Cromwell Holdings LLC lifted its position in shares of CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP lifted its position in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after purchasing an additional 249 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after purchasing an additional 353 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KMX shares. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Truist Financial boosted their target price on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Stephens began coverage on shares of CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 target price on the stock. Needham & Company LLC boosted their target price on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their target price on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, CarMax has an average rating of “Hold” and an average price target of $90.91.

CarMax Stock Performance

KMX opened at $77.55 on Friday. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The company’s fifty day moving average price is $83.03 and its two-hundred day moving average price is $80.40. CarMax, Inc. has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.67 and a beta of 1.72.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. The trade was a 19.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock worth $21,915,445 in the last quarter. 1.66% of the stock is currently owned by corporate insiders.

CarMax Profile

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.