Waterfall Asset Management LLC Acquires Shares of 30,000 America’s Car-Mart, Inc. (NASDAQ:CRMT)

Waterfall Asset Management LLC bought a new stake in America’s Car-Mart, Inc. (NASDAQ:CRMT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $1,258,000. America’s Car-Mart accounts for approximately 0.1% of Waterfall Asset Management LLC’s investment portfolio, making the stock its 4th biggest position.

A number of other hedge funds have also made changes to their positions in the company. Magnolia Group LLC raised its position in America’s Car-Mart by 6.7% in the 2nd quarter. Magnolia Group LLC now owns 768,410 shares of the company’s stock valued at $46,266,000 after purchasing an additional 48,460 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of America’s Car-Mart in the second quarter valued at $1,449,000. Deerfield Management Company L.P. Series C raised its holdings in shares of America’s Car-Mart by 459.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 22,267 shares of the company’s stock valued at $1,341,000 after buying an additional 18,290 shares during the last quarter. WCM Investment Management LLC lifted its position in America’s Car-Mart by 4.2% during the 3rd quarter. WCM Investment Management LLC now owns 232,835 shares of the company’s stock worth $10,107,000 after buying an additional 9,326 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in America’s Car-Mart during the 3rd quarter worth about $328,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Insider Activity at America’s Car-Mart

In related news, major shareholder Adam K. Peterson purchased 813,953 shares of the stock in a transaction dated 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 purchase, the insider now directly owns 1,582,363 shares in the company, valued at $68,041,609. The trade was a 105.93 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joshua G. Welch purchased 23,255 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $43.00 per share, for a total transaction of $999,965.00. Following the completion of the transaction, the director now directly owns 148,955 shares in the company, valued at $6,405,065. This trade represents a 18.50 % 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 company insiders.

America’s Car-Mart Price Performance

America’s Car-Mart stock traded up $0.96 during mid-day trading on Wednesday, hitting $47.51. The stock had a trading volume of 2,741 shares, compared to its average volume of 102,751. The stock has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $54.23. America’s Car-Mart, Inc. has a 12 month low of $37.98 and a 12 month high of $83.07.

America’s Car-Mart (NASDAQ:CRMT) last issued its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) 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 business had revenue of $347.76 million during the quarter, compared to the consensus estimate of $338.78 million. During the same period last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that America’s Car-Mart, Inc. will post 0.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. Stephens assumed coverage on shares of America’s Car-Mart in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

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.