Hhr Asset Management Lowers stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Hhr Asset Management reduced its stake in CarMax Inc by 5.06% during the most recent quarter end. The investment management company now holds a total of 1,637,709 shares of CarMax Inc which is valued at $97,541,948 after selling 87,320 shares in CarMax Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.CarMax Inc makes up approximately 4.63% of Hhr Asset Management’s portfolio.

Other Hedge Funds, Including , Barr E S Co boosted its stake in KMX in the latest quarter, The investment management firm added 15,825 additional shares and now holds a total of 271,735 shares of CarMax Inc which is valued at $16,184,537. CarMax Inc makes up approx 1.90% of Barr E S Co’s portfolio. Baird Financial Group sold out all of its stake in KMX during the most recent quarter. The investment firm sold 4,026 shares of KMX which is valued $239,789.Mutual Of America Capital Management boosted its stake in KMX in the latest quarter, The investment management firm added 2,022 additional shares and now holds a total of 22,444 shares of CarMax Inc which is valued at $1,261,353. CarMax Inc makes up approx 0.03% of Mutual Of America Capital Management’s portfolio. Arcus Capital Partners added KMX to its portfolio by purchasing 4,273 company shares during the most recent quarter which is valued at $240,143. CarMax Inc makes up approx 0.22% of Arcus Capital Partners’s portfolio.Riverpark Capital Management boosted its stake in KMX in the latest quarter, The investment management firm added 16,485 additional shares and now holds a total of 186,170 shares of CarMax Inc which is valued at $10,462,754. CarMax Inc makes up approx 4.74% of Riverpark Capital Management’s portfolio.

CarMax Inc opened for trading at $58.7 and hit $59.69 on the upside on Monday, eventually ending the session at $59.48, with a gain of 1.33% or 0.78 points. The heightened volatility saw the trading volume jump to 10,39,443 shares. Company has a market cap of $11,389 M.

On the company’s financial health, CarMax Inc reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 21, 2016. Analyst had a consensus of $0.92. The company had revenue of $4126.40 million for the quarter, compared to analysts expectations of $4203.38 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on CarMax Inc. Susquehanna Initiated CarMax Inc on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $70.Company shares were Reiterated by Wedbush on Aug 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $44 .

CarMax Inc. (CarMax) is a holding company engaged in providing used vehicles and related products and services. The Company operates through two business segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations excluding financing provided by CAF. The CarMax Sales Operations segment sells used vehicles purchases used vehicles from customers and other sources sells related products and services and arranges financing options for customers. The Company’s CAF segment consists of its own finance operation that provides vehicle financing through CarMax stores. The CAF products and services include retail merchandising wholesale auctions extended protection plans (EPPs) reconditioning and service and customer credit.

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