America’s Car-Mart, Inc. (NASDAQ:CRMT) Short Interest Down 7.9% in July

America’s Car-Mart, Inc. (NASDAQ:CRMT) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 902,000 shares, a decrease of 7.9% from the July 15th total of 979,000 shares. Based on an average trading volume of 73,600 shares, the days-to-cover ratio is currently 12.3 days. Currently, 15.8% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, major shareholder Adam K. Peterson bought 26,410 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average price of $57.74 per share, for a total transaction of $1,524,913.40. Following the completion of the transaction, the insider now owns 768,410 shares in the company, valued at $44,367,993.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On America’s Car-Mart

Several hedge funds and other institutional investors have recently made changes to their positions in CRMT. Magnolia Group LLC raised its stake in shares of America’s Car-Mart by 14.1% in the first quarter. Magnolia Group LLC now owns 719,950 shares of the company’s stock valued at $45,983,000 after acquiring an additional 88,899 shares during the period. HITE Hedge Asset Management LLC purchased a new position in America’s Car-Mart in the 2nd quarter worth about $1,449,000. BNP Paribas Financial Markets increased its stake in America’s Car-Mart by 121.0% in the 1st quarter. BNP Paribas Financial Markets now owns 38,259 shares of the company’s stock worth $2,444,000 after buying an additional 20,949 shares during the period. Deerfield Management Company L.P. Series C increased its stake in America’s Car-Mart by 459.9% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 22,267 shares of the company’s stock worth $1,341,000 after buying an additional 18,290 shares during the period. Finally, Yacktman Asset Management LP increased its stake in America’s Car-Mart by 70.0% in the 4th quarter. Yacktman Asset Management LP now owns 34,000 shares of the company’s stock worth $2,576,000 after buying an additional 14,000 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of America’s Car-Mart in a research note on Friday, June 7th. They set a “neutral” rating on the stock. StockNews.com downgraded shares of America’s Car-Mart from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.00.

America’s Car-Mart Trading Up 0.4 %

Shares of CRMT opened at $61.00 on Monday. America’s Car-Mart has a twelve month low of $55.00 and a twelve month high of $113.72. The company has a market cap of $389.91 million, a P/E ratio of -12.32, a P/E/G ratio of 0.76 and a beta of 1.69. The company’s fifty day simple moving average is $62.34 and its 200-day simple moving average is $62.03.

America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Tuesday, June 18th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. America’s Car-Mart had a negative net margin of 2.25% and a negative return on equity of 6.54%. The business had revenue of $364.67 million for the quarter, compared to the consensus estimate of $361.48 million. During the same quarter in the prior 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. Analysts predict that America’s Car-Mart will post 2.14 earnings per share for the current fiscal year.

America’s Car-Mart Company Profile

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.