Point72 Asia Singapore Pte. Ltd. Trims Holdings in America’s Car-Mart, Inc. (NASDAQ:CRMT)

Point72 Asia Singapore Pte. Ltd. lowered its position in America’s Car-Mart, Inc. (NASDAQ:CRMT) by 39.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,759 shares of the company’s stock after selling 2,476 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in America’s Car-Mart were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in America’s Car-Mart by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 10,006 shares of the company’s stock valued at $602,000 after acquiring an additional 381 shares during the period. BOKF NA lifted its position in America’s Car-Mart by 1.9% during the first quarter. BOKF NA now owns 24,674 shares of the company’s stock valued at $1,546,000 after purchasing an additional 453 shares during the period. American Century Companies Inc. boosted its holdings in America’s Car-Mart by 12.1% in the second quarter. American Century Companies Inc. now owns 8,371 shares of the company’s stock valued at $504,000 after purchasing an additional 905 shares during the last quarter. Foster & Motley Inc. grew its position in America’s Car-Mart by 20.3% during the 2nd quarter. Foster & Motley Inc. now owns 6,525 shares of the company’s stock worth $393,000 after purchasing an additional 1,100 shares during the period. Finally, Bank of New York Mellon Corp grew its position in America’s Car-Mart by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,897 shares of the company’s stock worth $1,559,000 after purchasing an additional 1,963 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Insider Activity

In related news, major shareholder Adam K. Peterson purchased 813,953 shares of the business’s stock in a transaction that occurred on 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 acquisition, the insider now owns 1,582,363 shares in the company, valued at $68,041,609. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joshua G. Welch purchased 23,255 shares of America’s Car-Mart stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $43.00 per share, for a total transaction of $999,965.00. Following the transaction, the director now directly owns 148,955 shares in the company, valued at $6,405,065. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Adam K. Peterson purchased 813,953 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average cost of $43.00 per share, for a total transaction of $34,999,979.00. Following the completion of the purchase, the insider now directly 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.

Analyst Ratings Changes

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

America’s Car-Mart Stock Performance

Shares of America’s Car-Mart stock opened at $40.98 on Thursday. The firm has a 50-day simple moving average of $55.34 and a two-hundred day simple moving average of $59.20. America’s Car-Mart, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $92.32. The company has a market cap of $261.94 million, a P/E ratio of -8.28, a price-to-earnings-growth ratio of 0.78 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). America’s Car-Mart had a negative return on equity of 7.75% and a negative net margin of 2.66%. The business had revenue of $347.76 million during the quarter, compared to analyst estimates of $338.78 million. During the same period in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts forecast that America’s Car-Mart, Inc. will post 1.37 EPS for the current year.

America’s Car-Mart Company Profile

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.