America’s Car-Mart (NASDAQ:CRMT) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a strong-buy rating to a buy rating in a research note published on Monday morning.

America’s Car-Mart Price Performance

Shares of CRMT opened at $44.65 on Monday. The firm has a market capitalization of $381.76 million, a PE ratio of 21.36 and a beta of 1.33. The company’s 50-day moving average is $50.67 and its 200-day moving average is $48.83. America’s Car-Mart has a fifty-two week low of $36.40 and a fifty-two week high of $62.72.

America’s Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings data on Tuesday, June 17th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.39. The company had revenue of $370.17 million for the quarter, compared to analyst estimates of $369.77 million. America’s Car-Mart had a net margin of 1.29% and a return on equity of 2.01%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. Analysts predict that America’s Car-Mart will post 0.86 earnings per share for the current fiscal year.

Insider Activity at America’s Car-Mart

In related news, major shareholder Adam K. Peterson sold 88,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $56.91, for a total value of $5,008,080.00. Following the transaction, the insider directly owned 1,428,094 shares in the company, valued at approximately $81,272,829.54. This represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 154,269 shares of company stock valued at $8,689,460 in the last 90 days. Corporate insiders own 18.50% of the company’s stock.

Hedge Funds Weigh In On America’s Car-Mart

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its stake in shares of America’s Car-Mart by 2.2% in the first quarter. Rhumbline Advisers now owns 10,464 shares of the company’s stock valued at $475,000 after acquiring an additional 229 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in America’s Car-Mart by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,310 shares of the company’s stock worth $196,000 after buying an additional 255 shares in the last quarter. Albert D Mason Inc. grew its stake in America’s Car-Mart by 5.0% during the first quarter. Albert D Mason Inc. now owns 8,964 shares of the company’s stock worth $407,000 after buying an additional 425 shares in the last quarter. Argent Capital Management LLC grew its stake in America’s Car-Mart by 5.5% during the second quarter. Argent Capital Management LLC now owns 10,965 shares of the company’s stock worth $614,000 after buying an additional 574 shares in the last quarter. Finally, Horrell Capital Management Inc. grew its stake in America’s Car-Mart by 2.2% during the second quarter. Horrell Capital Management Inc. now owns 27,427 shares of the company’s stock worth $1,537,000 after buying an additional 597 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

America’s Car-Mart Company Profile

America’s Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer for the used car market 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.