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

Carvana Co. (NYSE:CVNA – Get Rating) saw a significant growth in short interest in 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 trading volume, of 20,320,000 shares, the short-interest ratio is currently 2.7 days.

Analyst Ratings Changes

Several brokerages have weighed in on CVNA. Wedbush reissued a “sell” rating and set a $1.00 price objective on shares of Carvana in a research note on Wednesday, December 28th. William Blair cut Carvana from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 7th. Argus cut Carvana from a “hold” rating to a “sell” rating in a research note on Monday, November 21st. Cowen cut Carvana from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Finally, Cowen cut Carvana from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $43.65.

Carvana Stock Up 1.7 %

Carvana stock opened at $6.49 on Monday. The business has a fifty day moving average of $6.07 and a two-hundred day moving average of $19.77. The company has a quick ratio of 1.01, a current ratio of 2.38 and a debt-to-equity ratio of 17.69. The firm has a market cap of $1.23 billion, a P/E ratio of -0.73 and a beta of 2.41. Carvana has a twelve month low of $3.55 and a twelve month high of $167.00.

Carvana (NYSE:CVNA – Get Rating) last posted its earnings results 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). The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Carvana had a negative return on equity of 191.74% and a negative net margin of 5.99%. On average, analysts forecast that Carvana will post -9.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel J. Gill bought 133,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average cost of $7.62 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gregory B. Sullivan acquired 8,000 shares of Carvana stock in a transaction on Monday, November 14th. The shares were bought at an average cost of $10.00 per share, with a total value of $80,000.00. Following the completion of the purchase, the director now directly owns 17,392 shares of the company’s stock, valued at approximately $173,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel J. Gill acquired 133,000 shares of Carvana stock in a transaction on Monday, November 21st. The shares were bought at an average cost of $7.62 per share, for a total transaction of $1,013,460.00. Following the completion of the purchase, the insider now directly owns 263,415 shares of the company’s stock, valued at $2,007,222.30. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 251,000 shares of company stock worth $2,065,760. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of Carvana

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Carvana by 12.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,402 shares of the company’s stock valued at $9,922,000 after purchasing an additional 48,522 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Carvana by 161.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,500 shares of the company’s stock valued at $373,000 after purchasing an additional 10,200 shares during the last quarter. Forsta AP Fonden purchased a new stake in shares of Carvana during the 2nd quarter valued at $72,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Carvana by 20.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 109,638 shares of the company’s stock valued at $2,476,000 after purchasing an additional 18,327 shares during the last quarter. Finally, Equitec Proprietary Markets LLC purchased a new stake in shares of Carvana during the 2nd quarter valued at $142,000. Hedge funds and other institutional investors own 63.62% of the company’s stock.

Carvana Company Profile

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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.