Acadian Asset Management LLC reduced its stake in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 46.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,214 shares of the company’s stock after selling 49,133 shares during the quarter. Acadian Asset Management LLC owned about 0.84% of America’s Car-Mart worth $4,855,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in America’s Car-Mart by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 410,940 shares of the company’s stock worth $36,110,000 after acquiring an additional 7,778 shares in the last quarter. State Street Corp increased its stake in America’s Car-Mart by 45.3% in the first quarter. State Street Corp now owns 217,150 shares of the company’s stock valued at $12,236,000 after purchasing an additional 67,689 shares during the period. Portolan Capital Management LLC increased its stake in America’s Car-Mart by 91.0% in the second quarter. Portolan Capital Management LLC now owns 214,284 shares of the company’s stock valued at $18,829,000 after purchasing an additional 102,070 shares during the period. WCM Investment Management LLC increased its stake in America’s Car-Mart by 4.0% in the third quarter. WCM Investment Management LLC now owns 210,575 shares of the company’s stock valued at $17,874,000 after purchasing an additional 8,040 shares during the period. Finally, Azora Capital LP acquired a new position in America’s Car-Mart in the second quarter valued at $9,272,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.
Shares of NASDAQ CRMT opened at $101.64 on Friday. America’s Car-Mart, Inc. has a 12-month low of $35.18 and a 12-month high of $129.70. The company has a market capitalization of $695.42 million, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.01 and a beta of 1.42. The firm’s 50-day moving average is $93.23 and its two-hundred day moving average is $90.09.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of America’s Car-Mart from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Tuesday, November 10th. Stephens boosted their price objective on shares of America’s Car-Mart from $128.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday. ValuEngine downgraded shares of America’s Car-Mart from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 10th. Finally, BidaskClub raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $132.67.
In other news, COO Leonard L. Walthall sold 300 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $104.63, for a total value of $31,389.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Henderson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $98.00, for a total transaction of $294,000.00. Following the completion of the transaction, the director now directly owns 107,830 shares of the company’s stock, valued at approximately $10,567,340. The disclosure for this sale can be found here. Insiders sold 8,300 shares of company stock worth $837,489 in the last ninety days. Insiders own 11.20% of the company’s stock.
About America’s Car-Mart
America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company primarily sells older model used vehicles and provides financing for its customers. As of April 30, 2020, it operated 148 dealerships in the South-Central United States. America's Car-Mart, Inc was founded in 1981 and is based in Rogers, Arkansas.
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