ACV Auctions Inc (NASDAQ: ACVA) stock jumped 0.19% on Monday to $15.61 against a previous-day closing price of $15.58. With 0.54 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.93 million shares. During the session, the Auto & Truck Dealerships company that operates in wider Consumer Cyclical sector, reached to the highest price of $15.73 whereas the lowest price it dropped to was $15.38. The 52-week range on ACVA shows that it touched its highest point at $18.68 and its lowest point at $7.19 during that stretch. It currently has a 1-year price target of $20.15. Beta for the stock currently stands at 1.45.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACVA was up-trending over the past week, with a rise of 11.10%, but this was up by 10.87% over a month. Three-month performance surged to 2.23% while six-month performance fell -12.30%. The stock gained 80.67% in the past year, while it has gained 90.13% so far this year. A look at the trailing 12-month EPS for ACVA yields -0.48 with Next year EPS estimates of 0.15. For the next quarter, that number is -0.05. This implies an EPS growth rate of 73.04% for this year and 241.65% for next year. EPS is expected to grow by 0.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -29.41%.
Float and Shares Shorts:
At present, 161.44 million ACVA shares are outstanding with a float of 131.25 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.3 million, which was 4.52% higher than short shares on Sep 28, 2023. In addition to Mr. George G. Chamoun as the firm’s CEO & Director, Mr. William R. Zerella serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 96.19% of ACVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.85% of ACVA, in contrast to 46.54% held by mutual funds. Shares owned by individuals account for 3.47%. As the largest shareholder in ACVA with 9.22% of the stake, The Vanguard Group, Inc. holds 12,456,096 shares worth 12,456,096. A second-largest stockholder of ACVA, Atreides Management LP, holds 10,829,070 shares, controlling over 8.02% of the firm’s shares. ArrowMark Colorado Holdings LLC is the third largest shareholder in ACVA, holding 10,555,137 shares or 7.81% stake. With a 3.18% stake in ACVA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,292,363 shares are owned by the mutual fund manager. The Vanguard Explorer Fund, which owns about 2.61% of ACVA stock, is the second-largest Mutual Fund holder. It holds 3,529,726 shares valued at 47.05 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in ACVA, owning 3,481,977 shares worth 46.41 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACVA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACVA analysts setting a high price target of $23.00 and a low target of $15.00, the average target price over the next 12 months is $20.15. Based on these targets, ACVA could surge 47.34% to reach the target high and fall by -3.91% to reach the target low. Reaching the average price target will result in a growth of 29.08% from current levels.
Summary of Insider Activity:
Insiders traded ACVA stock several times over the past three months with 10 Buys and 23 Sells. In these transactions, 2,319,368 shares were bought while 576,296 shares were sold. The number of buy transactions has increased to 64 while that of sell transactions has risen to 98 over the past year. The total number of shares bought during that period was 12,322,046 while 9,480,792 shares were sold.
