America’s Car-Mart, Inc. (NASDAQ:CRMT) Sees Large Decrease in Short Interest

America’s Car-Mart, Inc. (NASDAQ:CRMT) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 875,400 shares, a decline of 6.7% from the October 15th total of 938,100 shares. Based on an average daily volume of 119,100 shares, the days-to-cover ratio is currently 7.4 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRMT. Stephens began coverage on shares of America’s Car-Mart in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $50.00 price target on the stock. StockNews.com raised America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, America’s Car-Mart currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Insiders Place Their Bets

In other news, major shareholder Adam K. Peterson purchased 813,953 shares of America’s Car-Mart stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $43.00 per share, with a total value of $34,999,979.00. Following the completion of the acquisition, the insider now owns 1,582,363 shares in the company, valued at $68,041,609. The trade was a 105.93 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua G. Welch purchased 23,255 shares of America’s Car-Mart stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $43.00 per share, with a total value of $999,965.00. Following the acquisition, the director now owns 148,955 shares of the company’s stock, valued at approximately $6,405,065. This trade represents a 18.50 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is currently owned by corporate insiders.

Institutional Trading of America’s Car-Mart

Several large investors have recently made changes to their positions in CRMT. Magnolia Group LLC increased its position in America’s Car-Mart by 6.7% in the second quarter. Magnolia Group LLC now owns 768,410 shares of the company’s stock worth $46,266,000 after purchasing an additional 48,460 shares during the period. WCM Investment Management LLC lifted its stake in America’s Car-Mart by 4.2% in the 3rd quarter. WCM Investment Management LLC now owns 232,835 shares of the company’s stock valued at $10,107,000 after acquiring an additional 9,326 shares in the last quarter. State Street Corp raised its stake in shares of America’s Car-Mart by 1.0% during the 3rd quarter. State Street Corp now owns 180,055 shares of the company’s stock worth $7,548,000 after purchasing an additional 1,810 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of America’s Car-Mart by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 140,625 shares of the company’s stock worth $5,896,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new stake in shares of America’s Car-Mart during the 3rd quarter worth approximately $3,197,000. Institutional investors own 89.10% of the company’s stock.

America’s Car-Mart Stock Up 1.3 %

Shares of CRMT stock opened at $42.33 on Monday. The stock has a 50 day moving average of $42.86 and a 200-day moving average of $55.02. The firm has a market cap of $270.79 million, a PE ratio of -7.29, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. America’s Car-Mart has a 12 month low of $37.98 and a 12 month high of $83.07.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.81). America’s Car-Mart had a negative net margin of 2.66% and a negative return on equity of 7.75%. The company had revenue of $347.76 million during the quarter, compared to the consensus estimate of $338.78 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that America’s Car-Mart will post 0.93 EPS for the current fiscal year.

About America’s Car-Mart

America’s Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer for the used car market 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.