America’s Car-Mart (NASDAQ:CRMT) Issues Quarterly Earnings Results

America’s Car-Mart (NASDAQ:CRMT) announced its earnings results on Tuesday. The company reported $0.48 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $242.64 million during the quarter. America’s Car-Mart had a negative return on equity of 2.63% and a negative net margin of 6.99%.

America’s Car-Mart Price Performance

Shares of CRMT stock opened at $3.55 on Tuesday. America’s Car-Mart has a 1-year low of $1.38 and a 1-year high of $60.67. The company has a market cap of $29.44 million, a price-to-earnings ratio of -0.30 and a beta of 1.31. The stock has a 50 day simple moving average of $6.99 and a 200-day simple moving average of $15.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRMT. BTIG Research reiterated a “neutral” rating on shares of America’s Car-Mart in a report on Monday, June 15th. Wall Street Zen upgraded shares of America’s Car-Mart from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Jefferies Financial Group decreased their price objective on America’s Car-Mart from $29.00 to $14.00 and set a “hold” rating for the company in a report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, America’s Car-Mart currently has an average rating of “Hold” and a consensus price target of $29.50.

Insider Activity at America’s Car-Mart

In other America’s Car-Mart news, major shareholder Adam K. Peterson sold 8,000 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $12.59, for a total value of $100,720.00. Following the transaction, the insider owned 1,119,875 shares in the company, valued at approximately $14,099,226.25. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On America’s Car-Mart

A number of institutional investors have recently made changes to their positions in CRMT. Jones Financial Companies Lllp grew its holdings in America’s Car-Mart by 492.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,191 shares of the company’s stock worth $54,000 after acquiring an additional 990 shares in the last quarter. Aquatic Capital Management LLC boosted its stake in America’s Car-Mart by 48.2% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,699 shares of the company’s stock worth $108,000 after purchasing an additional 1,203 shares during the period. Deutsche Bank AG grew its holdings in shares of America’s Car-Mart by 12.1% during the fourth quarter. Deutsche Bank AG now owns 4,450 shares of the company’s stock worth $112,000 after buying an additional 482 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of America’s Car-Mart by 264.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $135,000 after purchasing an additional 1,747 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of America’s Car-Mart in the third quarter valued at about $137,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

About America’s Car-Mart

America’s Car-Mart, Inc operates as a retailer and financer of used automobiles, specializing in serving customers with limited credit histories through an in-house “buy-here, pay-here” financing model. The company’s dealerships offer a selection of late-model, pre-owned vehicles across a range of makes and models, supported by on-site service centers and extended warranty products. In addition to vehicle sales, America’s Car-Mart generates revenue from finance charges, insurance products and ancillary services such as GAP coverage and credit life and disability insurance.

Founded in 1981 in Forrest City, Arkansas, America’s Car-Mart has grown from a single dealership into a publicly traded company listed on the Nasdaq under the ticker CRMT.