Short Interest in Carvana Co. (NYSE:CVNA) Increases By 7.9%

Carvana Co. (NYSE:CVNA – Get Rating) saw a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 54,100,000 shares, a growth of 7.9% from the December 15th total of 50,130,000 shares. Based on an average daily volume of 20,320,000 shares, the short-interest ratio is presently 2.7 days.

Insiders Place Their Bets

In other news, insider Daniel J. Gill purchased 133,000 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was acquired at an average price of $7.62 per share, with a total value of $1,013,460.00. Following the purchase, the insider now directly owns 263,415 shares in the company, valued at approximately $2,007,222.30. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Thomas Taira bought 10,000 shares of the stock in a transaction on Friday, November 11th. The stock was bought at an average price of $11.13 per share, with a total value of $111,300.00. Following the completion of the purchase, the insider now directly owns 42,518 shares in the company, valued at approximately $473,225.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Gill purchased 133,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were bought at an average price of $7.62 per share, with a total value of $1,013,460.00. Following the completion of the transaction, the insider now owns 263,415 shares of the company’s stock, valued at $2,007,222.30. The disclosure for this purchase can be found here. Insiders have bought 251,000 shares of company stock valued at $2,065,760 over the last ninety days. Company insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in shares of Carvana by 248.0% during the first quarter. US Bancorp DE now owns 1,646 shares of the company’s stock worth $197,000 after purchasing an additional 1,173 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Carvana during the 1st quarter worth approximately $603,000. Panagora Asset Management Inc. increased its position in Carvana by 86.7% during the first quarter. Panagora Asset Management Inc. now owns 3,022 shares of the company’s stock worth $360,000 after buying an additional 1,403 shares during the period. Great West Life Assurance Co. Can lifted its stake in Carvana by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 69,919 shares of the company’s stock valued at $8,842,000 after buying an additional 1,636 shares during the last quarter. Finally, Aviva PLC boosted its holdings in shares of Carvana by 62.5% in the first quarter. Aviva PLC now owns 41,710 shares of the company’s stock valued at $4,976,000 after acquiring an additional 16,037 shares during the period. 63.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVNA has been the topic of a number of research analyst reports. Truist Financial lowered Carvana from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Oppenheimer downgraded Carvana from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 15th. Wedbush reissued a “sell” rating and set a $1.00 target price on shares of Carvana in a research note on Wednesday, December 28th. JMP Securities dropped their target price on Carvana from $70.00 to $45.00 and set a “market outperform” rating for the company in a research report on Friday, October 21st. Finally, Cowen cut shares of Carvana from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. Two analysts have rated the stock with a sell rating, twenty have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.65.

Carvana Price Performance

Shares of NYSE CVNA opened at $6.64 on Wednesday. The stock’s 50-day simple moving average is $5.95 and its 200-day simple moving average is $19.50. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. The firm has a market capitalization of $1.25 billion, a PE ratio of -0.74 and a beta of 2.41. Carvana has a fifty-two week low of $3.55 and a fifty-two week high of $167.00.

Carvana (NYSE:CVNA – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($2.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($0.65). Carvana had a negative return on equity of 191.74% and a negative net margin of 5.99%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.64 billion. As a group, equities research analysts forecast that Carvana will post -9.88 EPS for the current fiscal year.

About Carvana

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Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.