Aggressive’ Bullish Options Activity Seen in CarMax, Inc

 Aggressive' Bullish Options Activity Seen in CarMax, Inc

In today’s session CarMax, Inc (KMX) registered an unusually high (435) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious KMX increase. With 435 contracts traded and 20604 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: KMX161021C00057500 closed last at: $0.15 or 40% down. About 1.41M shares traded hands. CarMax, Inc (NYSE:KMX) has risen 8.24% since March 2, 2016 and is uptrending. It has underperformed by 0.02% the S&P500.

CarMax, Inc (NYSE:KMX) Ratings Coverage

Out of 12 analysts covering Carmax Inc (NYSE:KMX), 4 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 33% are positive. Carmax Inc has been the topic of 23 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Vetr upgraded the shares of KMX in a report on Wednesday, September 2 to “Strong-Buy” rating. The firm has “Neutral” rating given on Tuesday, August 18 by Wedbush. The firm earned “Neutral” rating on Friday, September 9 by Buckingham Research. The firm has “Buy” rating given on Friday, September 4 by Vetr. Deutsche Bank maintained it with “Hold” rating and $66 target price in Thursday, September 22 report. The rating was upgraded by Oppenheimer on Tuesday, January 12 to “Outperform”. The firm has “Neutral” rating given on Friday, March 11 by Northcoast. The stock of CarMax, Inc (NYSE:KMX) earned “Outperform” rating by Oppenheimer on Monday, September 21. The firm has “Equal-Weight” rating given on Tuesday, March 29 by Morgan Stanley. Goldman Sachs upgraded CarMax, Inc (NYSE:KMX) on Monday, August 3 to “Conviction Buy” rating.

According to Zacks Investment Research, “CarMax, Inc. operates as a retailer of used cars. The Company also sells vehicles through on-site wholesale auctions, as well as sells new vehicles under franchise agreements. It operates used car superstores, provides customers with a range of other related products and services, including the appraisal and purchase of vehicles directly from consumers, the sale of extended service plans, guaranteed asset protection and accessories and vehicle repair service. CarMax, Inc. is based in Richmond, Virginia.”

Insitutional Activity: The institutional sentiment increased to 0.91 in Q2 2016. Its up 0.05, from 0.86 in 2016Q1. The ratio is positive, as 40 funds sold all CarMax, Inc shares owned while 142 reduced positions. 38 funds bought stakes while 128 increased positions. They now own 210.17 million shares or 4.67% less from 220.47 million shares in 2016Q1.
Brandywine Investment Mgmt Ltd Liability Corp accumulated 33,677 shares or 0.01% of the stock. Wellington Management Grp Incorporated Llp holds 0.05% of its portfolio in CarMax, Inc (NYSE:KMX) for 3.62 million shares. Nomura Holdings has 6,342 shares for 0% of their US portfolio. Sii Invs Wi holds 0.02% of its portfolio in CarMax, Inc (NYSE:KMX) for 4,226 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt has 0.01% invested in the company for 15,519 shares. Logan Cap last reported 12,132 shares in the company. Commerzbank Aktiengesellschaft Fi reported 5,129 shares or 0% of all its holdings. First Financial In holds 0.01% of its portfolio in CarMax, Inc (NYSE:KMX) for 460 shares. New York State Teachers Retirement has 378,832 shares for 0.05% of their US portfolio. First Quadrant Limited Partnership Ca last reported 0.02% of its portfolio in the stock. Connable Office holds 0.08% or 5,753 shares in its portfolio. Grp One Trading Limited Partnership accumulated 0% or 1,285 shares. Farmers And Merchants Inc, a Nebraska-based fund reported 50 shares. Madison Investment last reported 1.28% of its portfolio in the stock. Pub Employees Retirement Association Of Colorado last reported 42,086 shares in the company.

Insider Transactions: Since April 12, 2016, the stock had 1 insider purchase, and 16 insider sales for $30.24 million net activity. WYATT NATALIE L also sold $81,917 worth of CarMax, Inc (NYSE:KMX) shares. $51,780 worth of CarMax, Inc (NYSE:KMX) was bought by Colberg Alan B.. FOLLIARD THOMAS J sold $15.03M worth of stock. The insider MARGOLIN ERIC M sold $101,500. 57,795 CarMax, Inc (NYSE:KMX) shares with value of $3.20 million were sold by Reedy Thomas W JR. The insider Hill Edwin J sold 51,875 shares worth $2.99M. Wood William C Jr. sold $2.26 million worth of CarMax, Inc (NYSE:KMX) on Friday, August 12.

CarMax, Inc. is a holding company. The company has a market cap of $10.07 billion. The Firm is a retailer of used vehicles. It has a 17.4 P/E ratio. The Firm operates through two divisions: CarMax Sales Operations and CarMax Auto Finance (CAF).

KMX Company Profile

CarMax, Inc. (CarMax), incorporated on October 4, 1996, is a holding company. The Firm is a retailer of used vehicles. The Firm operates through two divisions: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF. The Company’s CAF segment consists of its own finance operation that provides vehicle financing through CarMax stores. The Firm operates approximately 160 used car stores in over 70 metropolitan markets. The Company’s services and products include retail merchandising, wholesale auctions, extended protection plans (EPPs), reconditioning and service, and customer credit. It offers clients a range of makes and models of used vehicles, including both domestic and imported vehicles. It provides condition disclosures on each vehicle, including those for vehicles with major mechanical issues, possible frame or flood damage, branded titles, salvage history and unknown true mileage. It performs routine mechanical and minor body repairs in-house; however, for some reconditioning services, including but not limited to services related to manufacturer’s warranties, it engages third parties specializing in those services. The Firm offers financing alternatives for retail clients across a range of the credit spectrum through CAF and arrangements with several financial institutions.

More recent CarMax, Inc (NYSE:KMX) news were published by: which released: “Is It Time for Investors to Bail on CarMax, Inc.?” on September 27, 2016. Also published the news titled: “Here’s the Problem With CarMax, Inc’s Second-Quarter Results” on September 26, 2016.‘s news article titled: “CarMax plans used car dealership in Sterling Heights” with publication date: October 04, 2016 was also an interesting one.

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