HITE Hedge Asset Management LLC Purchases 2,831 Shares of America’s Car-Mart, Inc. (NASDAQ:CRMT)

HITE Hedge Asset Management LLC grew its stake in America’s Car-Mart, Inc. (NASDAQ:CRMT) by 11.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Several other large investors also recently modified their holdings of the stock. Sentry Investment Management LLC purchased a new stake in America’s Car-Mart in the third quarter valued at $113,000. Hsbc Holdings PLC purchased a new position in America’s Car-Mart during the second quarter valued at approximately $221,000. Argent Capital Management LLC bought a new position in America’s Car-Mart in the 2nd quarter worth $231,000. Sequoia Financial Advisors LLC purchased a new stake in America’s Car-Mart during the 2nd quarter valued at about $245,000. Finally, Quest Partners LLC lifted its stake in shares of America’s Car-Mart by 3,215.7% in the 3rd quarter. Quest Partners LLC now owns 6,565 shares of the company’s stock worth $275,000 after purchasing an additional 6,367 shares during the period. 89.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRMT has been the subject of several recent research reports. StockNews.com upgraded America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Stephens assumed coverage on 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. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.00.

Insider Activity

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

America’s Car-Mart Stock Performance

Shares of NASDAQ CRMT opened at $45.86 on Tuesday. America’s Car-Mart, Inc. has a fifty-two week low of $37.98 and a fifty-two week high of $83.07. The business has a 50-day moving average of $42.30 and a 200-day moving average of $53.73.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings results 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). 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 analyst estimates of $338.78 million. During the same period in the previous year, the firm posted $0.63 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. Research analysts anticipate that America’s Car-Mart, Inc. will post 0.65 EPS for the current fiscal year.

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.