CarMax Falls as Investors Weigh Strong Sales Against Margin and Credit Risks

CarMax (KMX) is down 4.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is investor concern that CarMax’s recent sales rebound is still coming with margin pressure and added credit risk in its finance arm, rather than a new negative headline today. In the absence of a clear same-day catalyst, this move could also reflect traders refocusing on lower per-unit profitability and loan-loss exposure ahead of the company’s November 3 strategic update. ([media.carmax.com](https://media.carmax.com/press-releases/news-release/2026/CarMax-Reports-Second-Quarter-Fiscal-2027-Results/default.aspx))

Details:

Sources:

CarMax, SEC, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$KMX Insider Trading Activity

$KMX insiders have traded $KMX stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $KMX stock by insiders over the last 6 months:

• KEITH BARR (President and CEO) purchased 9,400 shares for an estimated $498,247
• PETER J BENSEN purchased 2,500 shares for an estimated $130,500

To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

$KMX Hedge Fund Activity

We have seen 227 institutional investors add shares of $KMX stock to their portfolio, and 324 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• NORGES BANK removed 3,455,184 shares (-83.8%) from their portfolio in Q2 2026, for an estimated $182,744,681
• AQR CAPITAL MANAGEMENT LLC removed 3,437,708 shares (-34.2%) from their portfolio in Q2 2026, for an estimated $181,820,376
• STARBOARD VALUE LP removed 2,994,924 shares (-48.3%) from their portfolio in Q2 2026, for an estimated $158,401,530
• HAWK RIDGE CAPITAL MANAGEMENT LP added 2,834,458 shares (+inf%) to their portfolio in Q2 2026, for an estimated $149,914,483
• APOLLO MANAGEMENT HOLDINGS, L.P. removed 2,158,456 shares (-52.1%) from their portfolio in Q2 2026, for an estimated $114,160,737
• CANADA PENSION PLAN INVESTMENT BOARD added 1,908,090 shares (+693.8%) to their portfolio in Q2 2026, for an estimated $100,918,880
• AMERICAN CENTURY COMPANIES INC added 1,859,355 shares (+133.7%) to their portfolio in Q2 2026, for an estimated $98,341,285

To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

$KMX Congressional Stock Trading

Members of Congress have traded $KMX stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $KMX stock by members of Congress over the last 6 months:

• REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 08/19.

To track congressional stock trading, check out Investivoq's congressional trading dashboard. You can access data on congressional stock trades through the Investivoq API Congress trades endpoint.

$KMX Analyst Ratings

Wall Street analysts have issued reports on $KMX in the last several months. We have seen 0 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

• B of A Securities issued a "Underperform" rating on 06/18/2026

To track analyst ratings and price targets for $KMX, check out Investivoq's $KMX forecast page.

$KMX Price Targets

Multiple analysts have issued price targets for $KMX recently. We have seen 10 analysts offer price targets for $KMX in the last 6 months, with a median target of $45.0.

Here are some recent targets:

• Joseph Spak from UBS set a target price of $57.0 on 06/23/2026
• Daniela Haigian from Morgan Stanley set a target price of $44.0 on 06/23/2026
• John Babcock from Barclays set a target price of $37.0 on 06/22/2026
• John Murphy from B of A Securities set a target price of $45.0 on 06/18/2026
• Steven Shemesh from RBC Capital set a target price of $45.0 on 06/18/2026
• Craig Kennison from Baird set a target price of $55.0 on 06/18/2026
• David Bellinger from Mizuho set a target price of $43.0 on 06/18/2026

This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.