Short Interest in America’s Car-Mart, Inc. (NASDAQ:CRMT) Drops By 5.7%

America’s Car-Mart, Inc. (NASDAQ:CRMT) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 938,400 shares, a decrease of 5.7% from the May 31st total of 995,200 shares. Based on an average daily trading volume, of 73,100 shares, the days-to-cover ratio is presently 12.8 days. Approximately 16.4% of the company’s stock are sold short.

America’s Car-Mart Trading Down 1.5 %

Shares of CRMT stock opened at $59.63 on Thursday. The business’s 50-day moving average price is $60.87 and its 200-day moving average price is $62.98. America’s Car-Mart has a 12 month low of $55.00 and a 12 month high of $127.96. The firm has a market capitalization of $381.04 million, a price-to-earnings ratio of -12.05, a PEG ratio of 2.58 and a beta of 1.70.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings results on Tuesday, June 18th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. America’s Car-Mart had a negative return on equity of 6.54% and a negative net margin of 2.25%. The firm had revenue of $364.67 million for the quarter, compared to analyst estimates of $361.48 million. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, sell-side analysts predict that America’s Car-Mart will post 2.68 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Adam K. Peterson acquired 26,410 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was bought at an average price of $57.74 per share, with a total value of $1,524,913.40. Following the acquisition, the insider now owns 768,410 shares in the company, valued at approximately $44,367,993.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other America’s Car-Mart news, CEO Douglas W. Jr. Campbell purchased 3,229 shares of the business’s stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $61.62 per share, with a total value of $198,970.98. Following the acquisition, the chief executive officer now directly owns 70,841 shares of the company’s stock, valued at approximately $4,365,222.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Adam K. Peterson purchased 26,410 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were acquired at an average cost of $57.74 per share, with a total value of $1,524,913.40. Following the acquisition, the insider now directly owns 768,410 shares in the company, valued at $44,367,993.40. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 43,189 shares of company stock valued at $2,508,023. 14.10% of the stock is owned by insiders.

Institutional Trading of America’s Car-Mart

Hedge funds have recently made changes to their positions in the company. Anchor Investment Management LLC acquired a new position in shares of America’s Car-Mart in the fourth quarter worth approximately $25,000. Quest Partners LLC acquired a new position in shares of America’s Car-Mart in the fourth quarter worth approximately $48,000. EntryPoint Capital LLC acquired a new position in shares of America’s Car-Mart in the first quarter worth approximately $178,000. Louisiana State Employees Retirement System acquired a new position in shares of America’s Car-Mart in the fourth quarter worth approximately $220,000. Finally, Bayesian Capital Management LP acquired a new position in shares of America’s Car-Mart in the first quarter worth approximately $240,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded America’s Car-Mart from a “hold” rating to a “sell” rating in a report on Tuesday. BTIG Research began coverage on America’s Car-Mart in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Bank of America reduced their price objective on America’s Car-Mart from $55.00 to $50.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $66.00.

About America’s Car-Mart

America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer 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.