HITE Hedge Asset Management LLC Has $1.13 Million Stake in America’s Car-Mart, Inc. (NASDAQ:CRMT)

HITE Hedge Asset Management LLC grew its holdings in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,890 shares of the company’s stock after purchasing an additional 2,831 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in America’s Car-Mart were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of CRMT. Sentry Investment Management LLC bought a new position in shares of America’s Car-Mart in the third quarter worth about $113,000. Hsbc Holdings PLC acquired a new position in shares of America’s Car-Mart in the second quarter valued at approximately $221,000. Argent Capital Management LLC acquired a new position in America’s Car-Mart during the second quarter worth $231,000. Sequoia Financial Advisors LLC acquired a new position in America’s Car-Mart during the second quarter worth $245,000. Finally, Foster & Motley Inc. boosted its holdings in America’s Car-Mart by 20.3% during the second quarter. Foster & Motley Inc. now owns 6,525 shares of the company’s stock worth $393,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

CRMT has been the topic of several research analyst reports. Stephens started coverage on shares of America’s Car-Mart in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $50.00 price objective on the stock. StockNews.com raised America’s Car-Mart from a “sell” rating to a “hold” rating in a report 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.00.

America’s Car-Mart Stock Down 0.6 %

CRMT stock opened at $45.86 on Tuesday. The company has a fifty day moving average price of $42.30 and a 200-day moving average price of $53.73. America’s Car-Mart, Inc. has a 52-week low of $37.98 and a 52-week high of $83.07.

America’s Car-Mart (NASDAQ:CRMT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.81). America’s Car-Mart had a negative net margin of 2.66% and a negative return on equity of 7.75%. The firm had revenue of $347.76 million for the quarter, compared to the consensus estimate of $338.78 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that America’s Car-Mart, Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Activity at America’s Car-Mart

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

America’s Car-Mart 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.