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

America’s Car-Mart, Inc. (NASDAQ:CRMT) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 809,700 shares, a decrease of 6.5% from the August 15th total of 866,200 shares. Based on an average daily trading volume, of 87,100 shares, the days-to-cover ratio is currently 9.3 days. Approximately 14.2% of the shares of the company are short sold.

America’s Car-Mart Stock Down 13.7 %

Shares of NASDAQ:CRMT opened at $43.12 on Friday. America’s Car-Mart has a 52-week low of $40.60 and a 52-week high of $93.63. The stock has a market cap of $275.62 million, a P/E ratio of -8.71, a PEG ratio of 0.77 and a beta of 1.68. The business has a fifty day moving average of $59.73 and a two-hundred day moving average of $60.51.

America’s Car-Mart (NASDAQ:CRMT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.81). The firm had revenue of $347.76 million during 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 business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, equities analysts anticipate that America’s Car-Mart will post 1.52 earnings per share for the current year.

Hedge Funds Weigh In On America’s Car-Mart

A number of hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C increased its stake in America’s Car-Mart by 459.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 22,267 shares of the company’s stock worth $1,341,000 after purchasing an additional 18,290 shares during the period. HITE Hedge Asset Management LLC purchased a new position in America’s Car-Mart in the 2nd quarter valued at approximately $1,449,000. Hsbc Holdings PLC acquired a new position in shares of America’s Car-Mart in the second quarter worth $221,000. BOKF NA increased its position in shares of America’s Car-Mart by 15.2% during the second quarter. BOKF NA now owns 28,434 shares of the company’s stock worth $1,712,000 after acquiring an additional 3,760 shares during the period. Finally, American Century Companies Inc. increased its holdings in America’s Car-Mart by 12.1% during the 2nd quarter. American Century Companies Inc. now owns 8,371 shares of the company’s stock worth $504,000 after purchasing an additional 905 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BTIG Research assumed coverage on America’s Car-Mart in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. StockNews.com upgraded America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, America’s Car-Mart presently has an average rating of “Hold” and a consensus target price of $66.00.

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.