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

America’s Car-Mart (NASDAQ:CRMT) issued its quarterly earnings results on Wednesday. The company reported ($6.65) EPS for the quarter, missing the consensus estimate of ($0.67) by ($5.98), Zacks reports. America’s Car-Mart had a negative return on equity of 4.09% and a negative net margin of 10.50%.The business had revenue of $145.75 million for the quarter, compared to the consensus estimate of $253.03 million.

America’s Car-Mart Stock Down 40.6%

Shares of CRMT stock opened at $1.48 on Thursday. The company has a market cap of $12.82 million, a price-to-earnings ratio of -0.09 and a beta of 1.27. The firm has a 50 day moving average of $3.02 and a 200-day moving average of $8.50. America’s Car-Mart has a 52 week low of $1.38 and a 52 week high of $37.45.

Hedge Funds Weigh In On America’s Car-Mart

A number of hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new stake in America’s Car-Mart in the 3rd quarter worth about $5,192,000. JPMorgan Chase & Co. boosted its position in America’s Car-Mart by 4,998.9% during the fourth quarter. JPMorgan Chase & Co. now owns 166,683 shares of the company’s stock worth $4,210,000 after purchasing an additional 163,414 shares during the period. BNP Paribas Financial Markets increased its stake in shares of America’s Car-Mart by 361.7% in the third quarter. BNP Paribas Financial Markets now owns 101,755 shares of the company’s stock worth $2,972,000 after purchasing an additional 79,715 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of America’s Car-Mart in the fourth quarter worth about $1,731,000. Finally, Marshall Wace LLP bought a new stake in shares of America’s Car-Mart in the second quarter valued at approximately $3,603,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRMT shares. Wall Street Zen upgraded America’s Car-Mart from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. BTIG Research restated a “neutral” rating on shares of America’s Car-Mart in a report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of America’s Car-Mart from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 31st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $14.00.

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.