America’s Car-Mart, Inc. (NASDAQ:CRMT) Major Shareholder Acquires $784,138.50 in Stock

America’s Car-Mart, Inc. (NASDAQ:CRMT) major shareholder Adam K. Peterson bought 13,550 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $57.87 per share, for a total transaction of $784,138.50. Following the purchase, the insider now owns 742,000 shares in the company, valued at approximately $42,939,540. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

America’s Car-Mart Price Performance

Shares of CRMT opened at $56.24 on Thursday. America’s Car-Mart, Inc. has a 1 year low of $55.00 and a 1 year high of $127.96. The company has a 50 day simple moving average of $62.72 and a two-hundred day simple moving average of $68.68. The firm has a market cap of $359.37 million, a P/E ratio of -11.99 and a beta of 1.67.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings results on Friday, March 8th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.24). America’s Car-Mart had a negative net margin of 2.10% and a negative return on equity of 6.10%. The company had revenue of $299.60 million during the quarter, compared to the consensus estimate of $350.95 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue was down 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that America’s Car-Mart, Inc. will post -4.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stephens reissued an “equal weight” rating and issued a $82.00 price objective on shares of America’s Car-Mart in a research note on Tuesday, February 6th. Bank of America decreased their price target on America’s Car-Mart from $55.00 to $50.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th.

Institutional Investors Weigh In On America’s Car-Mart

A number of hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in America’s Car-Mart by 121.1% in the 1st quarter. US Bancorp DE now owns 3,798 shares of the company’s stock worth $306,000 after acquiring an additional 2,080 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in America’s Car-Mart during the first quarter valued at $273,000. MetLife Investment Management LLC lifted its position in America’s Car-Mart by 59.3% during the first quarter. MetLife Investment Management LLC now owns 3,322 shares of the company’s stock valued at $268,000 after purchasing an additional 1,236 shares during the last quarter. Rhumbline Advisers grew its stake in shares of America’s Car-Mart by 2.3% in the 1st quarter. Rhumbline Advisers now owns 16,198 shares of the company’s stock worth $1,305,000 after buying an additional 359 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of America’s Car-Mart by 13.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,219 shares of the company’s stock worth $420,000 after buying an additional 624 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

About America’s Car-Mart

America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer 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.