Key Points
- Adam Peterson sold 8,000 shares on April 27 at an average price of $12.59 for about $100,720, trimming his stake by 0.71% to 1,119,875 shares, according to an SEC filing.
- The company significantly missed expectations for the quarter, reporting a loss of $1.53 per share versus a consensus loss of $0.26 and revenue of $222.6M versus $329.3M, with negative ROE and net margin and a negative P/E.
- Jefferies cut its price target from $29 to $14 and issued a "hold" rating, while institutional ownership remains high at about 89.1% and Goldman Sachs increased its stake to 195,860 shares.
America's Car-Mart, Inc. (NASDAQ:CRMT - Get Free Report) major shareholder Adam Peterson sold 8,000 shares of the company'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 sale, the insider owned 1,119,875 shares of the company's stock, valued at $14,099,226.25. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
America's Car-Mart Trading Down 3.3%
Shares of America's Car-Mart stock opened at $12.17 on Thursday. The stock has a fifty day simple moving average of $14.83 and a 200 day simple moving average of $20.99. America's Car-Mart, Inc. has a 12-month low of $10.58 and a 12-month high of $62.72. The company has a market capitalization of $101.04 million, a P/E ratio of -1.07 and a beta of 1.27.
America's Car-Mart (NASDAQ:CRMT - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($1.27). America's Car-Mart had a negative return on equity of 2.63% and a negative net margin of 6.99%.The business had revenue of $222.62 million during the quarter, compared to analysts' expectations of $329.26 million.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group cut their price objective on America's Car-Mart from $29.00 to $14.00 and set a "hold" rating on the stock in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $29.50.
Get Our Latest Stock Report on CRMT
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CRMT. AQR Capital Management LLC purchased a new position in shares of America's Car-Mart during the 1st quarter valued at $209,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of America's Car-Mart by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,310 shares of the company's stock valued at $196,000 after buying an additional 255 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of 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 valued at $54,000 after purchasing an additional 990 shares during the period. Goldman Sachs Group Inc. lifted its holdings in America's Car-Mart by 11.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 195,860 shares of the company's stock worth $8,890,000 after purchasing an additional 19,389 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in America's Car-Mart by 11.7% during the 2nd quarter. Rhumbline Advisers now owns 11,693 shares of the company's stock worth $655,000 after purchasing an additional 1,229 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.
America's Car-Mart Company Profile
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Get Free Report)
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.
Further Reading
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