CarMax, Inc Has Another Very Negative Options Trading Session

 CarMax, Inc Has Another Very Negative Options Trading Session

In today’s session CarMax, Inc (KMX) recorded an unusually high (278) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious KMX decrease. With 278 contracts traded and 22614 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: KMX161021P00050000 closed last at: $0.35 or 22.2% down. About 253,689 shares traded hands. CarMax, Inc (NYSE:KMX) has risen 1.90% since March 16, 2016 and is uptrending. It has underperformed by 3.65% 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. $77 is the highest target while $44 is the lowest. The $63.85 average target is 24.08% above today’s ($51.46) stock price. Carmax Inc has been the topic of 23 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, March 28 by Sterne Agee CRT. The stock of CarMax, Inc (NYSE:KMX) earned “Underperform” rating by Wolfe Research on Thursday, March 17. The company was downgraded on Wednesday, September 23 by Oppenheimer. The rating was downgraded by Northcoast on Friday, March 11 to “Neutral”. The stock has “Sector Perform” rating given by RBC Capital Markets on Monday, December 21. Vetr upgraded CarMax, Inc (NYSE:KMX) on Wednesday, September 2 to “Strong-Buy” rating. Zacks upgraded the shares of KMX in a report on Tuesday, August 25 to “Hold” rating. The stock of CarMax, Inc (NYSE:KMX) has “Hold” rating given on Friday, April 8 by Deutsche Bank. The company was downgraded on Friday, September 9 by Buckingham Research. The firm has “Outperform” rating given on Tuesday, January 12 by Oppenheimer.

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 increased, 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.
Legal And General Grp Plc holds 0.05% of its portfolio in CarMax, Inc (NYSE:KMX) for 879,383 shares. Pettyjohn Wood White reported 29,115 shares or 0.56% of all its holdings. Steinberg Glob Asset Mngmt holds 0.37% or 43,670 shares in its portfolio. Guggenheim Cap Lc holds 430,221 shares or 0.07% of its portfolio. Proshare holds 0.01% of its portfolio in CarMax, Inc (NYSE:KMX) for 18,416 shares. Thompson Siegel Walmsley Llc holds 0.01% of its portfolio in CarMax, Inc (NYSE:KMX) for 8,000 shares. Vision Mgmt holds 1.27% or 61,066 shares in its portfolio. Bamco Ny, a New York-based fund reported 1.48 million shares. The Illinois-based Hightower Advisors Limited has invested 0.02% in CarMax, Inc (NYSE:KMX). The New York-based Ibm Retirement Fund has invested 0.04% in CarMax, Inc (NYSE:KMX). The Illinois-based Ubs Asset Mngmt Americas Incorporated has invested 0.03% in CarMax, Inc (NYSE:KMX). Sumitomo Mitsui Tru has invested 0.05% of its portfolio in CarMax, Inc (NYSE:KMX). Alyeska Group Ltd Partnership, a Illinois-based fund reported 324,298 shares. Nicholas Inc Wi accumulated 205,560 shares or 0.2% of the stock. Keybank Natl Association Oh, a Ohio-based fund reported 13,295 shares.

Insider Transactions: Since April 26, 2016, the stock had 0 insider purchases, and 14 sales for $29.77 million net activity. $760,994 worth of CarMax, Inc (NYSE:KMX) was sold by MARGOLIN ERIC M. Another trade for 37,948 shares valued at $2.26 million was sold by Wood William C Jr.. Daniels Jon G also sold $510,000 worth of CarMax, Inc (NYSE:KMX) on Friday, July 8. Another trade for 1,417 shares valued at $81,917 was sold by WYATT NATALIE L. Reedy Thomas W JR also sold $3.20 million worth of CarMax, Inc (NYSE:KMX) on Thursday, July 14. 6,300 shares were sold by GARTEN JEFFREY E, worth $336,483 on Monday, September 26. On Tuesday, April 26 Grubb Edgar H sold $110,980 worth of the stock or 2,000 shares.

CarMax, Inc. is a holding company. The company has a market cap of $9.78 billion. The Firm is a retailer of used vehicles. It has a 16.7 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: “Here’s the Problem With CarMax, Inc’s Second-Quarter Results” on September 26, 2016. Also published the news titled: “Is It Time for Investors to Bail on CarMax, Inc.?” on September 27, 2016.‘s news article titled: “Drivers Get Pop Quiz on Selling Their Cars” with publication date: October 11, 2016 was also an interesting one.

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