Luxor Capital Group LP Purchases Shares of 31,190 Carvana Co. (NYSE:CVNA)

Luxor Capital Group LP purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,190 shares of the company's stock, valued at approximately $5,430,000. Carvana comprises about 0.3% of Luxor Capital Group LP's investment portfolio, making the stock its 21st largest holding.

Other large investors have also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in Carvana in the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC acquired a new stake in Carvana during the third quarter worth approximately $32,000. Summit Securities Group LLC grew its position in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company's stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Carvana during the third quarter worth approximately $40,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company's stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVNA has been the topic of a number of research analyst reports. Royal Bank of Canada raised Carvana to a "sector perform" rating and raised their target price for the company from $166.00 to $170.00 in a report on Monday, August 19th. Bank of America raised their target price on Carvana from $185.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an "overweight" rating and a $190.00 price objective on the stock. Finally, Jefferies Financial Group upped their price target on shares of Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $222.71.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the insider now owns 40,058,131 shares in the company, valued at approximately $6,209,010,305. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,022,063 shares of company stock valued at $383,108,209. 17.12% of the stock is owned by company insiders.

Carvana Stock Down 1.2 %

CVNA stock traded down $2.94 during midday trading on Monday, hitting $248.27. The company's stock had a trading volume of 1,494,398 shares, compared to its average volume of 4,578,773. The company has a market cap of $51.55 billion, a PE ratio of 25,300.00 and a beta of 3.32. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm's 50-day moving average is $221.77 and its 200-day moving average is $164.51. Carvana Co. has a 12 month low of $37.47 and a 12 month high of $268.34.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. Carvana's quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, equities research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.