Foundations Investment Advisors LLC Buys New Shares in Carvana Co. (NYSE:CVNA)

Foundations Investment Advisors LLC purchased a new position in shares of Carvana Co. (NYSE:CVNAGet Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,903 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVNA. HM Payson & Co. acquired a new stake in shares of Carvana during the 4th quarter worth $45,000. Lloyd Advisory Services LLC. boosted its holdings in Carvana by 157.2% during the first quarter. Lloyd Advisory Services LLC. now owns 445 shares of the company’s stock worth $53,000 after buying an additional 272 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Carvana in the 1st quarter worth approximately $59,000. Signaturefd LLC boosted its stake in shares of Carvana by 54.1% during the 1st quarter. Signaturefd LLC now owns 661 shares of the company’s stock valued at $79,000 after buying an additional 232 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in Carvana by 141.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 857 shares of the company’s stock worth $102,000 after acquiring an additional 502 shares during the period.

Carvana Stock Down 11.1 %

Carvana stock opened at $32.92 on Monday. The company has a debt-to-equity ratio of 7.64, a quick ratio of 1.11 and a current ratio of 2.32. Carvana Co. has a 52-week low of $19.45 and a 52-week high of $343.18. The firm has a 50 day moving average price of $34.49 and a two-hundred day moving average price of $55.90. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of -4.96 and a beta of 2.60.

Carvana (NYSE:CVNAGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($1.81) by ($0.54). The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.99 billion. Carvana had a negative net margin of 4.24% and a negative return on equity of 115.22%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. Equities analysts predict that Carvana Co. will post -8.29 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVNA. Oppenheimer dropped their price objective on shares of Carvana from $220.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, August 16th. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $98.00 to $73.00 in a research note on Monday, September 12th. DA Davidson reduced their price target on shares of Carvana from $49.00 to $42.00 in a report on Monday, August 8th. Argus started coverage on shares of Carvana in a research note on Thursday, August 18th. They issued a “hold” rating for the company. Finally, Morgan Stanley dropped their price objective on shares of Carvana from $105.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.25.

About Carvana

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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