Boulder Hill Capital Management LP Invests $888,000 in Carvana Co. (NYSE:CVNA)

Boulder Hill Capital Management LP bought a new position in Carvana Co. (NYSE:CVNA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,700 shares of the company’s stock, valued at approximately $888,000. Carvana makes up about 0.7% of Boulder Hill Capital Management LP’s holdings, making the stock its 14th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. HRT Financial LP bought a new position in shares of Carvana in the first quarter worth approximately $3,241,000. Dark Forest Capital Management LP bought a new position in Carvana during the first quarter valued at approximately $132,000. PFG Investments LLC bought a new position in Carvana during the first quarter valued at approximately $211,000. FMR LLC lifted its position in Carvana by 143.7% during the first quarter. FMR LLC now owns 4,667,263 shares of the company’s stock valued at $45,693,000 after purchasing an additional 2,752,097 shares during the period. Finally, Rhumbline Advisers lifted its position in Carvana by 8.8% during the first quarter. Rhumbline Advisers now owns 118,629 shares of the company’s stock valued at $1,161,000 after purchasing an additional 9,625 shares during the period. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $10.00 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, July 20th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Carvana in a report on Monday, August 14th. Robert W. Baird upped their target price on shares of Carvana from $10.00 to $45.00 in a report on Thursday, August 10th. Stephens upped their target price on shares of Carvana to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Carvana from $10.00 to $11.00 in a report on Monday, May 8th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.22.

Carvana Price Performance

Shares of Carvana stock traded up $0.50 during trading on Monday, hitting $50.85. The stock had a trading volume of 10,614,600 shares, compared to its average volume of 24,434,699. The firm’s fifty day simple moving average is $39.50 and its 200-day simple moving average is $21.31. Carvana Co. has a 12 month low of $3.55 and a 12 month high of $57.19.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 19th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.65. Carvana had a negative net margin of 11.08% and a negative return on equity of 1,491.81%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.62 billion. As a group, equities research analysts forecast that Carvana Co. will post -3.74 EPS for the current year.

About Carvana

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.