CarMax, Inc. (NYSE:KMX) Short Interest Update

CarMax, Inc. (NYSE:KMX - Get Free Report) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 17,180,000 shares, an increase of 8.1% from the September 15th total of 15,890,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is currently 9.3 days. Approximately 11.1% of the shares of the stock are short sold.

Insider Transactions at CarMax

In related news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the sale, the chief operating officer now owns 15,609 shares of the company's stock, valued at approximately $1,249,032.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Charles Joseph Wilson sold 10,021 shares of the firm's stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares of the company's stock, valued at approximately $1,249,032.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mohammad Shamim sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares of the company's stock, valued at approximately $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its position in shares of CarMax by 29.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company's stock worth $14,573,000 after purchasing an additional 37,660 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in CarMax by 10.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company's stock valued at $16,238,000 after buying an additional 17,557 shares during the period. Van ECK Associates Corp grew its stake in shares of CarMax by 38.2% in the first quarter. Van ECK Associates Corp now owns 55,800 shares of the company's stock worth $4,861,000 after acquiring an additional 15,426 shares in the last quarter. Swedbank AB purchased a new stake in shares of CarMax during the first quarter worth $1,406,000. Finally, SG Americas Securities LLC raised its stake in shares of CarMax by 7.9% in the first quarter. SG Americas Securities LLC now owns 22,939 shares of the company's stock valued at $1,998,000 after acquiring an additional 1,688 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KMX shares. Morgan Stanley reiterated an "overweight" rating and issued a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Mizuho decreased their target price on shares of CarMax from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 18th. Needham & Company LLC restated a "buy" rating and issued a $90.00 price target on shares of CarMax in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on CarMax from $55.00 to $65.00 and gave the company an "underweight" rating in a report on Thursday, September 19th. Finally, Truist Financial upped their target price on CarMax from $70.00 to $75.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $79.45.

CarMax Trading Up 1.8 %

Shares of KMX traded up $1.36 during trading on Wednesday, reaching $75.03. 644,547 shares of the company traded hands, compared to its average volume of 1,940,043. The stock has a 50-day simple moving average of $78.03 and a 200-day simple moving average of $75.39. The stock has a market cap of $11.71 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. On average, analysts anticipate that CarMax will post 2.97 earnings per share for the current year.

CarMax Company 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.