Morgan Stanley Investment Managem recently announced the acquisition of new stake in Carvana Co. (NYSE:CVNA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 12.01% to 14.13 million shares with purchase of 1.51 million shares. This fresh investment now brings its stake to 12.39% valued currently at $442.4 million. In addition, The Vanguard Group, Inc. raised its holdings by 46169.0 to 9.15 million shares. And BlackRock Fund Advisors has lifted its position by 134.75% or 3.4 million shares – to 5.93 million shares.
Currently, there are 106.04M common shares owned by the public and among those 94.07M shares have been available to trade.
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Insiders at the company have transacted a total of 124 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 981,584 shares. Insider sales of the common stock occurred on 100 occasions, with total insider shares sold totaling 214,500 shares.
The top 3 mutual fund holders in Carvana Co. are Morgan Stanley Instl. Fund-Growth, Vanguard Total Stock Market ETF, and T Rowe Price Blue Chip Growth Fun. Morgan Stanley Instl. Fund-Growth owns 3.25 million shares of the company’s stock, all valued at over $101.85 million. The company sold 25532.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard Total Stock Market ETF sold 12299.0 shares to see its total holdings shrink to 3.0 million shares valued at over $93.9 million and representing 2.63% of the shares outstanding. T Rowe Price Blue Chip Growth Fun bought 2.62 million shares to bring its total holdings to over 2.62 million shares at a value of $82.03 million. T Rowe Price Blue Chip Growth Fun now owns shares totaling to 2.30% of the shares outstanding.
However, the script later moved the day high at 55.87, up 8.33%. The company’s stock has a 5-day price change of 39.79% and 17.22% over the past three months. CVNA shares are trading 1074.68% year to date (YTD), with the 12-month market performance up to 917.92% higher. It has a 12-month low price of $3.62 and touched a high of $57.19 over the same period. CVNA has an average intraday trading volume of 8.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 50.29%, 62.90%, and 98.85% respectively.
Institutional ownership of Carvana Co. (NYSE: CVNA) shares accounts for 90.53% of the company’s 106.04M shares outstanding. Mutual fund holders own 37.60%, while other institutional holders and individual stakeholders account for 53.00% and 15.70% respectively.
It has a market capitalization of $6.35B and a beta (3y monthly) value of 3.10. The earnings-per-share (ttm) stands at -$5.87. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.55% over the week and 9.33% over the month.
Analysts forecast that Carvana Co. (CVNA) will achieve an EPS of -$0.93 for the current quarter, -$0.97 for the next quarter and -$3.26 for 2024. The lowest estimate earnings-per-share for the quarter is -$2.18 while analysts give the company a high EPS estimate of -$0.4. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to increase by 79.20%, and 4.31% over the next financial year.
Looking at the support for the CVNA, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 04, 2023, with the firm’s price target at $25-$40.
