America's Car-Mart (NASDAQ:CRMT - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.
America's Car-Mart Stock Down 2.1 %
NASDAQ CRMT traded down $0.98 during mid-day trading on Tuesday, hitting $45.62. The stock had a trading volume of 121,058 shares, compared to its average volume of 98,805. The company has a 50 day simple moving average of $46.13 and a 200 day simple moving average of $46.16. The company has a market cap of $376.91 million, a price-to-earnings ratio of -55.63, a P/E/G ratio of 1.41 and a beta of 1.40. America's Car-Mart has a 52-week low of $36.40 and a 52-week high of $72.26.
America's Car-Mart (NASDAQ:CRMT - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.38. America's Car-Mart had a negative return on equity of 2.26% and a negative net margin of 0.29%. The business had revenue of $325.73 million during the quarter, compared to analysts' expectations of $282.83 million. As a group, equities analysts anticipate that America's Car-Mart will post 0.86 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Jonathan Z. Buba bought 75,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $43.80 per share, with a total value of $3,285,000.00. Following the purchase, the director now owns 619,686 shares of the company's stock, valued at $27,142,246.80. This trade represents a 13.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 19.60% of the company's stock.
Institutional Investors Weigh In On America's Car-Mart
Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its holdings in shares of America's Car-Mart by 290.9% during the third quarter. Point72 Asset Management L.P. now owns 1,900 shares of the company's stock worth $80,000 after purchasing an additional 1,414 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in America's Car-Mart in the 3rd quarter worth about $40,000. State Street Corp grew its holdings in America's Car-Mart by 1.0% in the 3rd quarter. State Street Corp now owns 180,055 shares of the company's stock valued at $7,548,000 after buying an additional 1,810 shares during the period. Geode Capital Management LLC grew its holdings in America's Car-Mart by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 140,625 shares of the company's stock valued at $5,896,000 after buying an additional 2,807 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of America's Car-Mart by 351.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,601 shares of the company's stock worth $3,085,000 after acquiring an additional 57,304 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
America's Car-Mart Company Profile
(
Get Free Report)
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.
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