On April 14, 2023 at 10:45:36 ET an unusually large $274.98K block of Put contracts in CarMax (KMX) was bought, with a strike price of $67.50 / share, expiring in 98 day(s) (on July 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.73 sigmas above the mean, placing it in the 96.85th percentile of all recent large trades made in KMX options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1300 funds or institutions reporting positions in CarMax. This is an increase of 39 owner(s) or 3.09% in the last quarter. Average portfolio weight of all funds dedicated to KMX is 0.29%, a decrease of 4.51%. Total shares owned by institutions increased in the last three months by 5.42% to 221,324K shares. The put/call ratio of KMX is 2.52, indicating a bearish outlook.

Analyst Price Forecast Suggests 9.21% Downside

As of April 6, 2023, the average one-year price target for CarMax is $62.66. The forecasts range from a low of $34.34 to a high of $78.75. The average price target represents a decrease of 9.21% from its latest reported closing price of $69.01.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for CarMax is $32,191MM, an increase of 3.42%. The projected annual non-GAAP EPS is $4.53.

What are Other Shareholders Doing?

DSI – iShares MSCI KLD 400 Social ETF holds 30K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 32K shares, representing a decrease of 8.51%. The firm increased its portfolio allocation in KMX by 2.52% over the last quarter.

Lattice Capital Management holds 4K shares representing 0.00% ownership of the company. No change in the last quarter.

CVA Family Office holds 0K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

AVUS – Avantis U.S. Equity ETF holds 20K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 21K shares, representing a decrease of 4.28%. The firm decreased its portfolio allocation in KMX by 42.13% over the last quarter.

Knightsbridge Asset Management holds 8K shares representing 0.00% ownership of the company.

Carmax Background Information
(This description is provided by the company.)

CarMax, the nation’s largest retailer of used cars, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. CarMax also provides a variety of vehicle delivery methods, including home delivery, contactless curbside pickup and appointments in its stores. During the fiscal year ending February 29, 2020, CarMax sold more than 830,000 used cars and more than 465,000 wholesale vehicles at its in-store auctions. CarMax has 220 stores, over 25,000 Associates, and is proud to have been recognized for 16 consecutive years as one of the Fortune 100 Best Companies to Work For®.

See all CarMax regulatory filings.

This article originally appeared on Fintel

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