Investing in CarMax Inc. (KMX) Is Getting More Attractive


In a filing, CarMax Inc. revealed its President & CEO Nash William D acquired Company’s shares for reported $0.5 million on Dec 30. In the deal valued at $60.98 per share,8,220 shares were bought. As a result of this transaction, Nash William D now holds 165,128 shares worth roughly $ 11.21 million.

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Then, Cafritz Diane L sold 15,555 shares, generating $1,473,836 in total proceeds. Upon selling the shares at $94.75, the EVP, General Counsel & CHRO now owns 4,988 shares.

Before that, Shamim Mohammad sold 3,456 shares. CarMax Inc. shares valued at $324,553 were divested by the EVP and CITO at a price of $93.91 per share. As a result of the transaction, Shamim Mohammad now holds 8,769 shares, worth roughly $0.6 million.

PT values the company’s stock at a premium of -2.82 to its Friday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid January from “a Neutral” to “an Underweight”. Argus also remained covering KMX and has decreased its forecast on January 05, 2023 with a “Hold” recommendation from previously “Buy” rating. Oppenheimer maintained its rating on December 23, 2022. It rated KMX as “an Outperform”.

Price Performance Review of KMX

On Friday, CarMax Inc. [NYSE:KMX] saw its stock fall -1.81% to $67.86. On the same session, the stock had its day’s lowest price of $66.91, but rose to a high of $68.48. Over the last five days, the stock has lost -8.69%. CarMax Inc. shares have risen nearly 11.45% since the year began. Nevertheless, the stocks have fallen -32.38% over the past one year. While a 52-week high of $109.54 was reached on 02/02/23, a 52-week low of $52.10 was recorded on 01/03/23. SMA at 50 days reached $67.59, while 200 days put it at $79.28. A total of 1.47 million shares were traded, compared to the trading of 1.34 million shares in the previous session.

Levels Of Support And Resistance For KMX Stock

The 24-hour chart illustrates a support level at 67.02, which if violated will result in even more drops to 66.18. On the upside, there is a resistance level at 68.59. A further resistance level may holdings at 69.32. The Relative Strength Index (RSI) on the 14-day chart is 41.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.46%. Stochastics %K at 11.73% indicates the stock is a buying.

How much short interest is there in CarMax Inc.?

A steep rise in short interest was recorded in CarMax Inc. stocks on Jan 12, 2023, growing by 3.34 million shares to a total of 21.82 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 18.48 million shares. There was a rise of 15.31%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.57% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.42.

CarMax Inc. [KMX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,171,579 shares, or roughly 10.87% of the outstanding KMX shares. In other words, the investor’s shares have fallen by -22,477 from its previous 13-F filing of 17194056.0. Additionally, Principal Global Investors LLC decreased -1.12% of its stake after which the total value it holdings stand at $735,320,325, while Capital Research & Management Co added 0.01% of its stake to hold $563.41 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 113,966 shares of CarMax Inc., while Ruane, Cunniff & Goldfarb LP bought -197,202 shares. At present, SSgA Funds Management, Inc. is holding 6,006,376 shares valued at $423.15 million. PRIMECAP Management Co. owned 5,971,581 shares of the company at the time of its most recent 13F filing, worth $420.7 million.

According to FactSet, CarMax Inc.’s share price will average $61.86 in the next year, based on opinions of analysts polled by the firm. This is down nearly -5.95 percent from its previous closing price of $69.11. Analysts expect CarMax Inc. stock to reach the higher price of $81.00, while the lowest price estimate is $26.00. However, 19 analysts have rated KMX stock as an Overweight in their predictions for 2023.


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