America’s Car-Mart (NASDAQ:CRMT) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a sell rating in a research note published on Thursday morning.

Separately, BTIG Research began coverage on America’s Car-Mart in a report on Friday, June 7th. They set a neutral rating on the stock. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $66.00.

America’s Car-Mart Price Performance

NASDAQ CRMT opened at $61.00 on Thursday. The firm has a market capitalization of $389.91 million, a P/E ratio of -12.32, a P/E/G ratio of 0.76 and a beta of 1.69. America’s Car-Mart has a 1-year low of $55.00 and a 1-year high of $113.72. The business’s 50-day simple moving average is $62.34 and its 200-day simple moving average is $62.02.

America’s Car-Mart (NASDAQ:CRMT) last released its quarterly earnings data on Tuesday, June 18th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $364.67 million for the quarter, compared to analyst estimates of $361.48 million. America’s Car-Mart had a negative return on equity of 6.54% and a negative net margin of 2.25%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, equities research analysts expect that America’s Car-Mart will post 2.14 EPS for the current fiscal year.

Insider Activity at America’s Car-Mart

In related news, major shareholder Adam K. Peterson bought 26,410 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were acquired at an average cost of $57.74 per share, for a total transaction of $1,524,913.40. Following the acquisition, the insider now owns 768,410 shares in the company, valued at approximately $44,367,993.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.10% of the company’s stock.

Institutional Investors Weigh In On America’s Car-Mart

Several hedge funds and other institutional investors have recently bought and sold shares of CRMT. Magnolia Group LLC increased its holdings in America’s Car-Mart by 14.1% during the 1st quarter. Magnolia Group LLC now owns 719,950 shares of the company’s stock worth $45,983,000 after purchasing an additional 88,899 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in America’s Car-Mart during the 2nd quarter worth approximately $1,449,000. BNP Paribas Financial Markets increased its holdings in America’s Car-Mart by 121.0% during the 1st quarter. BNP Paribas Financial Markets now owns 38,259 shares of the company’s stock worth $2,444,000 after purchasing an additional 20,949 shares during the last quarter. Deerfield Management Company L.P. Series C increased its holdings in America’s Car-Mart by 459.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 22,267 shares of the company’s stock worth $1,341,000 after purchasing an additional 18,290 shares during the last quarter. Finally, Yacktman Asset Management LP increased its holdings in shares of America’s Car-Mart by 70.0% in the 4th quarter. Yacktman Asset Management LP now owns 34,000 shares of the company’s stock valued at $2,576,000 after acquiring an additional 14,000 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

America’s Car-Mart Company Profile

America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer in the United States. It primarily sells older model used vehicles and provides financing for its customers. The company was founded in 1981 and is headquartered in Rogers, Arkansas.