ACV Auctions (ACVA) Jumps on Top-Line Growth and Large Buyback Authorization

The Cambiar SMID Fund, overseen by Cambiar Investors, revealed its Q2 2026 investor letter, highlighting ACV Auctions Inc. (NYSE:ACVA) as a notable investment. ACV Auctions Inc., a digital automotive marketplace connecting buyers and sellers for wholesale vehicle auctions, experienced a 35.85% return over the past month, though its shares rose 0.77% over the past year.

The company boasts a $1.77 billion market capitalization and has fluctuated between $4.07 and $10.55 in the past 52 weeks. The Cambiar SMID Fund noted ACV Auctions Inc.'s performance, citing the company's rebound after strong top-line growth and its recent announcement of a substantial share buyback program. Despite ACV Auctions Inc. not ranking in the top 40 Most Popular Stocks Among Hedge Funds, the Cambiar SMID Fund remains optimistic about the company's potential, citing niche business models and undervalued AI stocks as areas of interest.