Polymer Capital Management HK LTD Makes New $1.38 Million Investment in Carvana Co. (NYSE:CVNA)

Polymer Capital Management HK LTD purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,908 shares of the company’s stock, valued at approximately $1,377,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new position in Carvana in the third quarter valued at about $32,000. Capital Performance Advisors LLP bought a new position in shares of Carvana in the 3rd quarter worth approximately $40,000. Ridgewood Investments LLC bought a new position in shares of Carvana in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. grew its position in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after buying an additional 196 shares during the period. Finally, Summit Securities Group LLC increased its holdings in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $255.54 on Wednesday. The company has a market cap of $53.06 billion, a price-to-earnings ratio of 25,579.58 and a beta of 3.32. Carvana Co. has a 1 year low of $36.53 and a 1 year high of $268.34. The stock’s 50 day simple moving average is $216.65 and its two-hundred day simple moving average is $161.56. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the business earned $0.23 EPS. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities analysts anticipate that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Wells Fargo & Company raised their price objective on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, JMP Securities lifted their price target on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $220.94.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $141.72, for a total transaction of $10,629,000.00. Following the completion of the transaction, the insider now owns 40,733,131 shares in the company, valued at $5,772,699,325.32. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were 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 trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,172,063 shares of company stock valued at $403,916,959. Insiders own 17.18% of the company’s stock.

Carvana Company 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.