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

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

Insider Buying and Selling

In related news, Director Joshua G. Welch bought 23,255 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $43.00 per share, with a total value of $999,965.00. Following the completion of the transaction, the director now owns 148,955 shares of the company’s stock, valued at approximately $6,405,065. The trade was a 18.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Adam K. Peterson bought 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 transaction, the insider now directly owns 1,582,363 shares of the company’s stock, valued at approximately $68,041,609. The trade was a 105.93 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 19.60% of the company’s stock.

Institutional Trading of America’s Car-Mart

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of America’s Car-Mart in the third quarter worth $40,000. Point72 Asset Management L.P. increased its stake in shares of America’s Car-Mart by 290.9% in the third quarter. Point72 Asset Management L.P. now owns 1,900 shares of the company’s stock worth $80,000 after buying an additional 1,414 shares during the last quarter. Sentry Investment Management LLC acquired a new position in America’s Car-Mart in the third quarter worth $113,000. EntryPoint Capital LLC acquired a new position in America’s Car-Mart in the first quarter worth $178,000. Finally, Hsbc Holdings PLC acquired a new position in America’s Car-Mart in the second quarter worth $221,000. Institutional investors own 89.10% of the company’s stock.

America’s Car-Mart Stock Up 1.3 %

CRMT opened at $42.33 on Monday. The firm has a market capitalization of $270.79 million, a P/E ratio of -7.29, a P/E/G ratio of 1.23 and a beta of 1.67. The firm’s 50 day moving average is $42.86 and its 200-day moving average is $55.02. America’s Car-Mart has a 52-week low of $37.98 and a 52-week high of $83.07.

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

Wall Street Analyst Weigh In

CRMT has been the topic of several research reports. StockNews.com upgraded shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Stephens started coverage on shares of America’s Car-Mart in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

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.