Renaissance Technologies LLC Acquires 362,300 Shares of CarMax, Inc. (NYSE:KMX)

Renaissance Technologies LLC boosted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 108.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 695,900 shares of the company's stock after acquiring an additional 362,300 shares during the quarter. Renaissance Technologies LLC owned 0.45% of CarMax worth $56,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of CarMax during the 4th quarter valued at $423,187,000. Raymond James Financial Inc. purchased a new position in CarMax in the fourth quarter valued at about $31,061,000. Principal Financial Group Inc. grew its stake in CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock valued at $702,425,000 after purchasing an additional 282,519 shares in the last quarter. American Century Companies Inc. raised its stake in shares of CarMax by 25.3% during the 4th quarter. American Century Companies Inc. now owns 1,168,992 shares of the company's stock worth $95,577,000 after purchasing an additional 235,805 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of CarMax during the 4th quarter valued at about $18,710,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KMX. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, December 20th. Royal Bank of Canada decreased their target price on CarMax from $103.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $87.73.

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Insider Buying and Selling at CarMax

In other news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares of the company's stock, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total value of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares of the company's stock, valued at $765,288. This represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,878 shares of company stock valued at $1,872,699 in the last 90 days. 1.66% of the stock is currently owned by company insiders.

CarMax Stock Performance

Shares of NYSE:KMX traded down $0.36 during trading on Tuesday, hitting $67.14. 1,026,550 shares of the stock were exchanged, compared to its average volume of 2,081,116. The company's fifty day simple moving average is $78.28 and its 200-day simple moving average is $79.10. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. CarMax, Inc. has a 1-year low of $63.23 and a 1-year high of $91.25.

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.