Rhumbline Advisers Boosts Holdings in America’s Car-Mart, Inc. (NASDAQ:CRMT)

Rhumbline Advisers grew its stake in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,006 shares of the company’s stock after acquiring an additional 381 shares during the quarter. Rhumbline Advisers owned about 0.16% of America’s Car-Mart worth $602,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Magnolia Group LLC increased its position in America’s Car-Mart by 14.1% during the first 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. BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 20,949 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of America’s Car-Mart in the 2nd quarter worth $468,000. Paloma Partners Management Co acquired a new position in America’s Car-Mart in the first quarter valued at $313,000. Finally, WCM Investment Management LLC grew its position in America’s Car-Mart by 2.1% during the first quarter. WCM Investment Management LLC now owns 224,875 shares of the company’s stock valued at $14,363,000 after acquiring an additional 4,604 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRMT. BTIG Research started coverage on America’s Car-Mart in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. StockNews.com raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, America’s Car-Mart currently has a consensus rating of “Hold” and a consensus price target of $66.00.

America’s Car-Mart Price Performance

Shares of CRMT opened at $42.42 on Wednesday. America’s Car-Mart, Inc. has a 12 month low of $40.60 and a 12 month high of $93.63. The stock’s 50-day moving average is $58.18 and its two-hundred day moving average is $60.04. The stock has a market cap of $271.15 million, a PE ratio of -8.57, a P/E/G ratio of 0.77 and a beta of 1.68.

America’s Car-Mart (NASDAQ:CRMT) last released 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). The company had revenue of $347.76 million during the quarter, compared to analysts’ expectations of $338.78 million. America’s Car-Mart had a negative return on equity of 7.75% and a negative net margin of 2.66%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. On average, research analysts anticipate that America’s Car-Mart, Inc. will post 1.52 earnings per share for the current year.

Insider Activity

In other news, major shareholder Adam K. Peterson purchased 813,953 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $43.00 per share, with a total value of $34,999,979.00. Following the purchase, the insider now directly owns 1,582,363 shares of the company’s stock, valued at approximately $68,041,609. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other America’s Car-Mart news, Director Joshua G. Welch bought 23,255 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $43.00 per share, with a total value of $999,965.00. Following the transaction, the director now directly owns 148,955 shares in the company, valued at approximately $6,405,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Adam K. Peterson bought 813,953 shares of America’s Car-Mart stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $43.00 per share, with a total value of $34,999,979.00. Following the completion of the purchase, the insider now owns 1,582,363 shares in the company, valued at approximately $68,041,609. The disclosure for this purchase can be found here. Insiders own 14.10% of the company’s stock.

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.