ACV Auctions Inc. (NASDAQ:ACVA) is Cramer Rosenthal Mcglynn LLC's 3rd Largest Position

Cramer Rosenthal Mcglynn LLC grew its holdings in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,237,786 shares of the company's stock after purchasing an additional 30,641 shares during the quarter. ACV Auctions makes up approximately 2.7% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 3rd biggest holding. Cramer Rosenthal Mcglynn LLC owned about 1.33% of ACV Auctions worth $48,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ACVA. Blue Trust Inc. grew its holdings in shares of ACV Auctions by 65.8% in the 4th quarter. Blue Trust Inc. now owns 2,352 shares of the company's stock valued at $48,000 after buying an additional 933 shares during the period. KBC Group NV increased its stake in ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after purchasing an additional 3,300 shares in the last quarter. LPL Financial LLC acquired a new position in shares of ACV Auctions in the fourth quarter valued at approximately $226,000. Xponance Inc. acquired a new position in ACV Auctions in the 4th quarter worth $229,000. Finally, Versor Investments LP acquired a new stake in shares of ACV Auctions in the 4th quarter valued at about $262,000. 88.55% of the stock is owned by institutional investors.

Insider Activity at ACV Auctions

In related news, insider Michael Waterman sold 15,000 shares of ACV Auctions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.27, for a total value of $304,050.00. Following the transaction, the insider now directly owns 311,354 shares of the company's stock, valued at $6,311,145.58. The trade was a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Chamoun sold 348,249 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $15.34, for a total transaction of $5,342,139.66. Following the completion of the transaction, the chief executive officer now owns 2,821,193 shares in the company, valued at $43,277,100.62. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 378,249 shares of company stock valued at $5,849,140. Insiders own 8.50% of the company's stock.

ACV Auctions Price Performance

NASDAQ ACVA traded up $0.42 on Tuesday, hitting $14.33. The stock had a trading volume of 1,555,312 shares, compared to its average volume of 2,294,466. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -29.23 and a beta of 1.74. ACV Auctions Inc. has a 52-week low of $11.88 and a 52-week high of $23.46. The firm has a 50-day moving average of $15.42 and a 200-day moving average of $18.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. The company had revenue of $159.51 million during the quarter, compared to the consensus estimate of $156.77 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. Equities analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACVA shares. Stephens raised shares of ACV Auctions to a "hold" rating in a research report on Saturday, February 1st. Piper Sandler upgraded ACV Auctions from a "neutral" rating to an "overweight" rating and increased their price target for the company from $18.00 to $20.00 in a research note on Thursday, March 20th. Bank of America raised ACV Auctions from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $22.00 to $20.00 in a report on Wednesday, March 12th. JMP Securities reduced their target price on ACV Auctions from $22.00 to $18.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of ACV Auctions from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

ACV Auctions Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.