Zacks Investment Research upgraded shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) from a strong sell rating to a hold rating in a report released on Monday morning.

According to Zacks, “America’s Car-Mart operates automotive dealerships and is one of the largest automotive retailers in the United States focused exclusively on the Buy Here/Pay Here segment of the used car market. The Company operates its dealerships primarily in small cities and rural locations throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers. “

CRMT has been the subject of a number of other reports. Jefferies Group LLC reissued a hold rating and issued a $41.00 target price on shares of America’s Car-Mart in a research report on Friday, August 18th. Stephens assumed coverage on America’s Car-Mart in a research report on Wednesday, August 23rd. They issued an equal weight rating and a $42.00 target price for the company. Finally, ValuEngine downgraded America’s Car-Mart from a buy rating to a hold rating in a research note on Wednesday, August 23rd.

America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Thursday, August 17th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $146.40 million during the quarter, compared to analysts’ expectations of $153.05 million. America’s Car-Mart had a return on equity of 8.70% and a net margin of 3.41%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS.

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In other news, CEO William H. Henderson sold 6,250 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $37.60, for a total transaction of $235,000.00. Following the completion of the transaction, the chief executive officer now directly owns 93,440 shares of the company’s stock, valued at approximately $3,513,344. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Magnolia Capital Fund, Lp bought 14,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $37.61 per share, with a total value of $526,540.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 34,756 shares of company stock valued at $1,289,442 and have sold 39,870 shares valued at $1,568,668. 11.70% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of CRMT. Tower Research Capital LLC TRC raised its stake in shares of America’s Car-Mart by 3,157.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the company’s stock worth $137,000 after buying an additional 3,410 shares in the last quarter. American International Group Inc. raised its stake in shares of America’s Car-Mart by 7.2% during the 1st quarter. American International Group Inc. now owns 4,864 shares of the company’s stock worth $177,000 after buying an additional 326 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of America’s Car-Mart during the 2nd quarter worth approximately $206,000. The Manufacturers Life Insurance Company raised its stake in shares of America’s Car-Mart by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,155 shares of the company’s stock worth $240,000 after buying an additional 112 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of America’s Car-Mart during the 1st quarter worth approximately $304,000. 88.39% of the stock is owned by institutional investors and hedge funds.

America’s Car-Mart Company Profile

America’s Car-Mart, Inc is an automotive retailer focused on the integrated auto sales and finance segment of the used car market. The Company conducts its operations through its two operating subsidiaries, America’s Car Mart, Inc (Car-Mart of Arkansas) and Colonial Auto Finance, Inc (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).

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