Bank of New York Mellon Corp reduced its position in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 20.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,599 shares of the company’s stock after selling 12,727 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of America’s Car-Mart worth $1,808,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Highbridge Capital Management LLC purchased a new position in America’s Car-Mart during the fourth quarter worth about $305,000. Russell Investments Group Ltd. purchased a new position in America’s Car-Mart during the fourth quarter worth about $529,000. Two Sigma Investments LP boosted its position in America’s Car-Mart by 211.1% in the fourth quarter. Two Sigma Investments LP now owns 17,867 shares of the company’s stock worth $782,000 after buying an additional 12,124 shares during the period. Horrell Capital Management Inc. boosted its position in America’s Car-Mart by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the company’s stock worth $994,000 after buying an additional 100 shares during the period. Finally, State Street Corp boosted its position in America’s Car-Mart by 3.2% in the fourth quarter. State Street Corp now owns 131,425 shares of the company’s stock worth $5,747,000 after buying an additional 4,063 shares during the period. 83.55% of the stock is currently owned by institutional investors and hedge funds.
America’s Car-Mart, Inc. (NASDAQ CRMT) traded down 0.13% during midday trading on Wednesday, hitting $37.50. 21,096 shares of the stock were exchanged. The firm’s 50-day moving average price is $38.29 and its 200 day moving average price is $37.02. The firm has a market capitalization of $283.05 million, a P/E ratio of 15.06 and a beta of 0.94. America’s Car-Mart, Inc. has a 1-year low of $30.20 and a 1-year high of $47.75.
America’s Car-Mart (NASDAQ:CRMT) last released its quarterly earnings results on Monday, May 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The company had revenue of $152.90 million for the quarter, compared to the consensus estimate of $158.24 million. America’s Car-Mart had a net margin of 3.43% and a return on equity of 8.82%. America’s Car-Mart’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Analysts expect that America’s Car-Mart, Inc. will post $3.06 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded shares of America’s Car-Mart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC raised their price objective on shares of America’s Car-Mart from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th.
In other America’s Car-Mart news, CEO William H. Henderson sold 1,608 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $38.09, for a total transaction of $61,248.72. Following the transaction, the chief executive officer now owns 89,298 shares in the company, valued at $3,401,360.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Magnolia Capital Fund, Lp acquired 14,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $37.61 per share, for a total transaction of $526,540.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 68,700 shares of company stock worth $2,531,007 and have sold 28,108 shares worth $1,061,151. 11.70% of the stock is owned by corporate insiders.
About America’s Car-Mart
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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