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

America’s Car-Mart (NASDAQ:CRMTGet Free Report) issued its earnings results on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06, Briefing.com reports. The company had revenue of $364.67 million for the quarter, compared to the consensus estimate of $361.48 million. America’s Car-Mart had a negative return on equity of 6.54% and a negative net margin of 2.25%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS.

America’s Car-Mart Stock Down 6.4 %

NASDAQ:CRMT opened at $57.81 on Thursday. America’s Car-Mart has a 1 year low of $55.00 and a 1 year high of $127.96. The stock’s 50 day simple moving average is $60.32 and its two-hundred day simple moving average is $63.41.

Insider Transactions at America’s Car-Mart

In related news, major shareholder Adam K. Peterson bought 8,500 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was purchased at an average price of $57.85 per share, for a total transaction of $491,725.00. Following the acquisition, the insider now owns 728,450 shares in the company, valued at $42,140,832.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Adam K. Peterson bought 8,500 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was purchased at an average price of $57.85 per share, for a total transaction of $491,725.00. Following the acquisition, the insider now owns 728,450 shares in the company, valued at $42,140,832.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Adam K. Peterson bought 13,550 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $57.87 per share, with a total value of $784,138.50. Following the acquisition, the insider now owns 742,000 shares in the company, valued at approximately $42,939,540. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 25,279 shares of company stock worth $1,474,834. 14.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On America’s Car-Mart

A number of large investors have recently bought and sold shares of the business. Magnolia Group LLC boosted its holdings in America’s Car-Mart by 14.1% during the 1st quarter. Magnolia Group LLC now owns 719,950 shares of the company’s stock valued at $45,983,000 after acquiring an additional 88,899 shares during the period. Vanguard Group Inc. raised its position in America’s Car-Mart by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 406,388 shares of the company’s stock valued at $36,977,000 after purchasing an additional 5,349 shares in the last quarter. WCM Investment Management LLC raised its position in America’s Car-Mart by 2.1% during the 1st quarter. WCM Investment Management LLC now owns 224,875 shares of the company’s stock valued at $14,363,000 after purchasing an additional 4,604 shares in the last quarter. Invesco Ltd. raised its position in America’s Car-Mart by 5.7% during the 3rd quarter. Invesco Ltd. now owns 123,760 shares of the company’s stock valued at $11,261,000 after purchasing an additional 6,720 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in America’s Car-Mart by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,163 shares of the company’s stock valued at $7,840,000 after purchasing an additional 1,639 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRMT. BTIG Research started coverage on America’s Car-Mart in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Bank of America reduced their price objective on America’s Car-Mart from $55.00 to $50.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, America’s Car-Mart currently has an average rating of “Hold” and a consensus target price of $66.00.

Read Our Latest Analysis on America’s Car-Mart

About America’s Car-Mart

(Get Free Report)

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.

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Earnings History for America's Car-Mart (NASDAQ:CRMT)

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