Key Points
- George Chamoun bought 24,272 ACV Auctions shares on March 9 at an average price of $5.05 ($122,573.60), raising his holdings to 2,952,977 shares (a 0.83% increase) after earlier purchases in December and January.
- ACV reported Q4 EPS of ($0.11), missing estimates by $0.10, while revenue rose 15.2% year-over-year to $183.65 million and the company still shows negative net margin and ROE.
- Institutions own about 88.55% of the stock with several large funds materially increasing positions, and analysts maintain a consensus "Moderate Buy" with a $11.32 target despite recent price-target cuts.
ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) CEO George Chamoun purchased 24,272 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was purchased at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the acquisition, the chief executive officer owned 2,952,977 shares of the company's stock, valued at approximately $14,912,533.85. This trade represents a 0.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
George Chamoun also recently made the following trade(s):
- On Monday, January 12th, George Chamoun acquired 14,286 shares of ACV Auctions stock. The shares were acquired at an average cost of $8.81 per share, with a total value of $125,859.66.
- On Monday, December 15th, George Chamoun bought 31,172 shares of ACV Auctions stock. The shares were acquired at an average price of $7.97 per share, with a total value of $248,440.84.
ACV Auctions Price Performance
NASDAQ ACVA traded up $0.01 during trading on Thursday, reaching $5.01. The company's stock had a trading volume of 349,206 shares, compared to its average volume of 3,360,993. The stock has a market capitalization of $872.10 million, a PE ratio of -10.22 and a beta of 1.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a fifty day moving average of $7.17 and a 200 day moving average of $8.26. ACV Auctions Inc. has a one year low of $4.45 and a one year high of $17.54.
ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The business had revenue of $183.65 million for the quarter, compared to the consensus estimate of $181.96 million. During the same quarter last year, the business posted ($0.16) EPS. The business's revenue was up 15.2% compared to the same quarter last year. Analysts expect that ACV Auctions Inc. will post -0.07 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in ACVA. Atreides Management LP boosted its stake in shares of ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company's stock valued at $99,543,000 after purchasing an additional 6,901,010 shares in the last quarter. Wasatch Advisors LP lifted its stake in ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company's stock worth $118,331,000 after purchasing an additional 5,475,874 shares during the last quarter. Sunriver Management LLC bought a new stake in ACV Auctions in the fourth quarter worth $23,768,000. SG Capital Management LLC purchased a new stake in ACV Auctions during the third quarter valued at about $17,103,000. Finally, Arvin Capital Management LP grew its stake in shares of ACV Auctions by 272.8% during the fourth quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company's stock valued at $18,421,000 after buying an additional 1,680,723 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. B. Riley Financial cut their price target on shares of ACV Auctions from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. The Goldman Sachs Group dropped their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, February 24th. Barclays cut their target price on shares of ACV Auctions from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Monday, March 2nd. Barrington Research raised ACV Auctions from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 24th. Finally, Citigroup downgraded ACV Auctions from a "buy" rating to a "neutral" rating and lowered their price target for the company from $13.00 to $7.00 in a research report on Tuesday, February 24th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ACV Auctions currently has an average rating of "Moderate Buy" and a consensus target price of $11.32.
Get Our Latest Analysis on ACVA
ACV Auctions Company Profile
(
Get Free Report)
ACV Auctions operates a digital marketplace that connects automotive dealers through a mobile-first platform for wholesale vehicle auctions. The company's software enables dealers to list, inspect and bid on used vehicles in real time, leveraging smartphone-based condition reporting, high-resolution imagery and data analytics to streamline the buying and selling process. ACV Auctions also offers subscription-based access to its auction platform, supplemental reconditioning services and financing tools designed to help dealers optimize inventory turn and reduce risk.
Since its founding in 2014, ACV Auctions has expanded its technology offerings beyond core auction services to include dealer management integrations, transportation logistics coordination and title management solutions.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
