Yacktman Asset Management LP Boosts Stock Position in America’s Car-Mart, Inc. (NASDAQ:CRMT)

Yacktman Asset Management LP lifted its holdings in America’s Car-Mart, Inc. (NASDAQ:CRMT) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,000 shares of the company’s stock after buying an additional 3,000 shares during the period. Yacktman Asset Management LP’s holdings in America’s Car-Mart were worth $1,341,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Magnolia Group LLC boosted its holdings in shares of America’s Car-Mart by 6.7% in the 2nd quarter. Magnolia Group LLC now owns 768,410 shares of the company’s stock worth $46,266,000 after purchasing an additional 48,460 shares during the period. BNP Paribas Financial Markets grew its holdings in America’s Car-Mart by 121.0% during the 1st quarter. BNP Paribas Financial Markets now owns 38,259 shares of the company’s stock valued at $2,444,000 after purchasing an additional 20,949 shares during the last quarter. BOKF NA raised its position in America’s Car-Mart by 15.2% in the 2nd quarter. BOKF NA now owns 28,434 shares of the company’s stock worth $1,712,000 after purchasing an additional 3,760 shares during the period. Bank of New York Mellon Corp lifted its stake in America’s Car-Mart by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 25,897 shares of the company’s stock worth $1,559,000 after purchasing an additional 1,963 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in America’s Car-Mart in the second quarter worth about $1,449,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, America’s Car-Mart presently has a consensus rating of “Hold” and a consensus price target of $66.00.

America’s Car-Mart Stock Performance

America’s Car-Mart stock opened at $38.90 on Tuesday. The company has a 50 day moving average price of $45.69 and a 200-day moving average price of $56.02. The company has a market capitalization of $248.84 million, a PE ratio of -6.79, a P/E/G ratio of 1.12 and a beta of 1.67. America’s Car-Mart, Inc. has a fifty-two week low of $37.98 and a fifty-two week high of $85.68.

America’s Car-Mart (NASDAQ:CRMT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.81). America’s Car-Mart had a negative return on equity of 7.75% and a negative net margin of 2.66%. The firm had revenue of $347.76 million for the quarter, compared to the consensus estimate of $338.78 million. During the same period in the previous year, the company posted $0.63 EPS. America’s Car-Mart’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts forecast that America’s Car-Mart, Inc. will post 0.93 earnings per share for the current year.

Insider Activity

In other America’s Car-Mart news, Director Joshua G. Welch bought 23,255 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $43.00 per share, for a total transaction of $999,965.00. Following the purchase, the director now directly owns 148,955 shares in the company, valued at $6,405,065. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joshua G. Welch acquired 23,255 shares of the stock in a transaction dated Thursday, September 19th. The stock was acquired at an average cost of $43.00 per share, for a total transaction of $999,965.00. Following the completion of the purchase, the director now owns 148,955 shares of the company’s stock, valued at approximately $6,405,065. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Adam K. Peterson purchased 813,953 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $43.00 per share, with a total value of $34,999,979.00. Following the transaction, the insider now owns 1,582,363 shares in the company, valued at $68,041,609. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 19.60% of the company’s stock.

America’s Car-Mart Company Profile

America’s Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer for the used car market 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.