SG Capital Management LLC lowered its stake in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 19.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,553 shares of the company’s stock after selling 20,330 shares during the quarter. America’s Car-Mart comprises about 1.7% of SG Capital Management LLC’s holdings, making the stock its 19th largest position. SG Capital Management LLC owned 1.26% of America’s Car-Mart worth $6,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citadel Advisors LLC acquired a new position in shares of America’s Car-Mart during the 2nd quarter valued at about $990,000. Tower Research Capital LLC TRC purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $272,000. Summit Global Investments purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $631,000. Credit Agricole S A purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $372,000. Finally, Spark Investment Management LLC purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $297,000. 71.09% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on CRMT. BidaskClub cut America’s Car-Mart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 27th. ValuEngine cut America’s Car-Mart from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Stephens set a $84.00 target price on America’s Car-Mart and gave the stock a “hold” rating in a report on Monday, August 20th. Janney Montgomery Scott upgraded America’s Car-Mart from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $61.00 to $96.00 in a report on Monday, August 20th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $82.00 target price on shares of America’s Car-Mart in a report on Friday, August 17th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.20.
In related news, Director Ray C. Dillon purchased 1,000 shares of the firm’s stock in a transaction on Friday, September 21st. The stock was purchased at an average price of $80.45 per share, for a total transaction of $80,450.00. Following the acquisition, the director now directly owns 2,500 shares in the company, valued at $201,125. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Magnolia Capital Fund, Lp sold 55,597 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $64.16, for a total value of $3,567,103.52. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.
Shares of NASDAQ:CRMT traded up $0.03 during trading on Friday, reaching $71.72. 160 shares of the stock were exchanged, compared to its average volume of 74,481. America’s Car-Mart, Inc. has a 12-month low of $40.15 and a 12-month high of $89.85. The stock has a market capitalization of $500.62 million, a P/E ratio of 19.92, a PEG ratio of 0.70 and a beta of 1.02.
America’s Car-Mart (NASDAQ:CRMT) last issued its earnings results on Thursday, August 16th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.38. The business had revenue of $164.02 million during the quarter, compared to analysts’ expectations of $161.39 million. America’s Car-Mart had a return on equity of 13.52% and a net margin of 6.41%. Research analysts expect that America’s Car-Mart, Inc. will post 5.34 EPS for the current year.
America’s Car-Mart Profile
America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company primarily sells older model used vehicles and provides financing for its customers. As of June 28, 2018, it operated 140 dealerships. America's Car-Mart, Inc was founded in 1981 and is based in Bentonville, Arkansas.
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