America’s Car-Mart, Inc. (NASDAQ:CRMT) Short Interest Down 6.7% in October

America’s Car-Mart, Inc. (NASDAQ:CRMT) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 875,400 shares, a drop of 6.7% from the October 15th total of 938,100 shares. Based on an average daily volume of 119,100 shares, the days-to-cover ratio is currently 7.4 days.

America’s Car-Mart Stock Up 0.6 %

CRMT stock opened at $42.03 on Tuesday. The stock’s 50 day moving average price is $42.86 and its 200 day moving average price is $55.02. America’s Car-Mart has a 1 year low of $37.98 and a 1 year high of $83.07.

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

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson acquired 813,953 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $43.00 per share, with a total value of $34,999,979.00. Following the completion of the transaction, the insider now owns 1,582,363 shares of the company’s stock, valued at $68,041,609. The trade was a 105.93 % 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. Also, Director Joshua G. Welch acquired 23,255 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $43.00 per share, for a total transaction of $999,965.00. Following the completion of the transaction, the director now owns 148,955 shares in the company, valued at approximately $6,405,065. The trade was a 18.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On America’s Car-Mart

A number of large investors have recently modified their holdings of CRMT. Rhumbline Advisers raised its stake in shares of America’s Car-Mart by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 10,006 shares of the company’s stock valued at $602,000 after acquiring an additional 381 shares during the period. BOKF NA grew its stake in America’s Car-Mart by 1.9% in the first quarter. BOKF NA now owns 24,674 shares of the company’s stock worth $1,546,000 after purchasing an additional 453 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of America’s Car-Mart by 12.1% during the second quarter. American Century Companies Inc. now owns 8,371 shares of the company’s stock worth $504,000 after purchasing an additional 905 shares during the period. Point72 DIFC Ltd bought a new position in America’s Car-Mart during the 3rd quarter worth $40,000. Finally, Foster & Motley Inc. grew its holdings in America’s Car-Mart by 20.3% in the 2nd quarter. Foster & Motley Inc. now owns 6,525 shares of the company’s stock worth $393,000 after buying an additional 1,100 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CRMT. StockNews.com upgraded shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. Stephens started coverage on shares of America’s Car-Mart in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $50.00 price target for the company. 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 data from MarketBeat, America’s Car-Mart presently has an average rating of “Hold” and an average price target of $50.00.

About America’s Car-Mart

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.