Portolan Capital Management LLC Makes New Investment in America's Car-Mart, Inc. (NASDAQ:CRMT)

Portolan Capital Management LLC purchased a new position in shares of America's Car-Mart, Inc. (NASDAQ:CRMT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 filing with the SEC.

A number of other hedge funds have also made changes to their positions in CRMT. Sequoia Financial Advisors LLC bought a new stake in shares of America's Car-Mart during the 2nd quarter worth $245,000. Argent Capital Management LLC acquired a new stake in shares of America's Car-Mart in the second quarter valued at about $231,000. Bank of New York Mellon Corp grew its position in shares of 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 valued at $1,559,000 after purchasing an additional 1,963 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of America's Car-Mart during the 2nd quarter worth about $468,000. Finally, Rhumbline Advisers lifted its position in shares of America's Car-Mart by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 10,006 shares of the company's stock worth $602,000 after purchasing an additional 381 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

America's Car-Mart Trading Up 16.0 %

CRMT traded up $7.30 on Thursday, hitting $53.00. 468,572 shares of the stock traded hands, compared to its average volume of 104,413. The business has a fifty day moving average price of $42.59 and a two-hundred day moving average price of $53.54. The firm has a market capitalization of $339.20 million, a PE ratio of -9.25, a P/E/G ratio of 1.92 and a beta of 1.68. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.81). The firm had revenue of $347.76 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts forecast that America's Car-Mart, Inc. will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have commented on CRMT shares. StockNews.com raised America's Car-Mart from a "sell" rating to a "hold" rating in a research report on Friday, August 23rd. Stephens raised shares of America's Car-Mart from a "hold" rating to a "strong-buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.