Wall Street Zen upgraded shares of America’s Car-Mart (NASDAQ:CRMT – Free Report) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings cut America’s Car-Mart from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $14.00.
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America’s Car-Mart Stock Down 12.3%
Shares of America’s Car-Mart stock opened at $0.91 on Friday. The company has a fifty day moving average of $1.47 and a 200 day moving average of $9.25. America’s Car-Mart has a fifty-two week low of $0.57 and a fifty-two week high of $28.70.
America’s Car-Mart (NASDAQ:CRMT – Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported ($6.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($5.98). America’s Car-Mart had a negative return on equity of 15.19% and a negative net margin of 18.21%. The business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $253.03 million.
Institutional Trading of America’s Car-Mart
Several hedge funds have recently made changes to their positions in CRMT. Engineers Gate Manager LP raised its stake in America’s Car-Mart by 41.5% in the 2nd quarter. Engineers Gate Manager LP now owns 15,268 shares of the company’s stock worth $43,000 after acquiring an additional 4,475 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of America’s Car-Mart by 734.9% during the second quarter. Hsbc Holdings PLC now owns 105,794 shares of the company’s stock worth $295,000 after purchasing an additional 93,122 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of America’s Car-Mart in the second quarter worth about $1,798,674. Massachusetts Institute of Technology acquired a new position in shares of America’s Car-Mart during the 2nd quarter worth approximately $467,000. Finally, BlackRock Inc. purchased a new stake in America’s Car-Mart in the 2nd quarter valued at $708,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
About America’s Car-Mart
America’s Car-Mart, Inc is a specialty automotive retailer that sells used vehicles and provides financing to consumers, including customers who may have limited or damaged credit histories. The company operates under a “buy here, pay here” business model, generally originating and servicing installment loans for vehicles purchased through its dealerships.
Its dealerships offer a selection of used cars, trucks and sport utility vehicles, with inventory typically acquired through auctions, trade-ins and other wholesale channels.
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