PCJ Investment Counsel Ltd. Sells 17,800 Shares of Carvana Co. (NYSE:CVNA)

PCJ Investment Counsel Ltd. trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 35.3% during the 4th quarter, Holdings Channel reports. The firm owned 32,650 shares of the company’s stock after selling 17,800 shares during the period. Carvana comprises 2.2% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 13th biggest position. PCJ Investment Counsel Ltd.’s holdings in Carvana were worth $6,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Quent Capital LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC raised its stake in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Carvana during the fourth quarter valued at $34,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana in the 3rd quarter worth $40,000. Finally, Versant Capital Management Inc bought a new stake in Carvana during the fourth quarter worth approximately $42,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira J. Platt sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the completion of the sale, the director now directly owns 5,227 shares of the company’s stock, valued at $1,276,956.10. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 119,629 shares of company stock worth $30,866,419. Insiders own 17.18% of the company’s stock.

Carvana Trading Up 0.7 %

Shares of Carvana stock opened at $188.19 on Friday. The company has a 50-day moving average of $231.95 and a two-hundred day moving average of $212.64. The stock has a market cap of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on CVNA shares. Citigroup boosted their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Evercore ISI increased their target price on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price target on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird lifted their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.94.

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.