America’s Car-Mart (NASDAQ:CRMT) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of America’s Car-Mart (NASDAQ:CRMT) in a report published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $50.00 price objective on the stock.

Separately, 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 analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.00.

America’s Car-Mart Stock Down 1.0 %

Shares of NASDAQ:CRMT opened at $41.77 on Wednesday. The company has a market cap of $267.33 million, a PE ratio of -7.29, a P/E/G ratio of 1.24 and a beta of 1.67. The company’s 50-day moving average price is $42.86 and its 200 day moving average price is $55.06. America’s Car-Mart has a fifty-two week low of $37.98 and a fifty-two week high of $83.07.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.81). The business had revenue of $347.76 million during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. As a group, equities analysts anticipate that America’s Car-Mart will post 0.93 EPS for the current year.

Insider Buying and Selling at America’s Car-Mart

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 shares were acquired 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 approximately $6,405,065. This represents a 18.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Adam K. Peterson purchased 813,953 shares of America’s Car-Mart stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average price of $43.00 per share, for a total transaction of $34,999,979.00. Following the transaction, the insider now owns 1,582,363 shares in the company, valued at $68,041,609. This represents a 105.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRMT. Magnolia Group LLC lifted its position in America’s Car-Mart by 6.7% during the 2nd quarter. Magnolia Group LLC now owns 768,410 shares of the company’s stock valued at $46,266,000 after purchasing an additional 48,460 shares during the period. WCM Investment Management LLC raised its position in shares of 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 during the period. State Street Corp raised its position in shares of America’s Car-Mart by 1.0% in the 3rd quarter. State Street Corp now owns 180,055 shares of the company’s stock valued at $7,548,000 after acquiring an additional 1,810 shares during the period. Geode Capital Management LLC raised its position in shares of America’s Car-Mart by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 140,625 shares of the company’s stock valued at $5,896,000 after acquiring an additional 2,807 shares during the period. Finally, Portolan Capital Management LLC acquired a new stake in shares of America’s Car-Mart in the 3rd quarter valued at approximately $3,197,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.