Portolan Capital Management LLC Takes Position in America’s Car-Mart, Inc. (NASDAQ:CRMT)

Portolan Capital Management LLC acquired a new stake in America’s Car-Mart, Inc. (NASDAQ:CRMT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 76,264 shares of the company’s stock, valued at approximately $3,197,000. Portolan Capital Management LLC owned approximately 1.19% of America’s Car-Mart as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sentry Investment Management LLC acquired a new stake in America’s Car-Mart in the 3rd quarter valued at $113,000. Hsbc Holdings PLC acquired a new stake in America’s Car-Mart in the 2nd quarter valued at $221,000. Argent Capital Management LLC purchased a new position in America’s Car-Mart during the 2nd quarter worth $231,000. Sequoia Financial Advisors LLC purchased a new position in America’s Car-Mart during the 2nd quarter worth $245,000. Finally, Quest Partners LLC boosted its holdings in America’s Car-Mart by 3,215.7% during the 3rd quarter. Quest Partners LLC now owns 6,565 shares of the company’s stock worth $275,000 after acquiring an additional 6,367 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Joshua G. Welch acquired 23,255 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $43.00 per share, for a total transaction of $999,965.00. Following the purchase, the director now owns 148,955 shares of the company’s stock, valued at approximately $6,405,065. The trade was a 18.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Adam K. Peterson acquired 813,953 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $43.00 per share, for a total transaction of $34,999,979.00. Following the completion of the purchase, the insider now directly owns 1,582,363 shares in the company, valued at $68,041,609. This trade represents a 105.93 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CRMT shares. Stephens started coverage on shares of America’s Car-Mart in a report on Wednesday, November 13th. They set an “equal weight” rating and a $50.00 price objective on the stock. StockNews.com raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, America’s Car-Mart presently has an average rating of “Hold” and an average price target of $50.00.

America’s Car-Mart Stock Performance

Shares of NASDAQ:CRMT opened at $45.70 on Thursday. The company’s 50-day moving average is $42.41 and its 200 day moving average is $53.54. The company has a market capitalization of $292.34 million, a P/E ratio of -7.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.68. America’s Car-Mart, Inc. has a fifty-two week low of $37.98 and a fifty-two week 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 company had revenue of $347.76 million during 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%. America’s Car-Mart’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, research analysts predict that America’s Car-Mart, Inc. will post 0.65 earnings per share for the current year.

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.