Bank of New York Mellon Corp decreased its position in shares of America’s Car-Mart Inc. (NASDAQ:CRMT) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 46,311 shares of the company’s stock after selling 2,974 shares during the period. Bank of New York Mellon Corp owned about 0.58% of America’s Car-Mart worth $1,308,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its stake in America’s Car-Mart by 2.3% in the first quarter. Royal Bank of Canada now owns 12,183 shares of the company’s stock worth $305,000 after buying an additional 271 shares during the period. Geode Capital Management LLC raised its stake in America’s Car-Mart by 1.0% in the first quarter. Geode Capital Management LLC now owns 55,080 shares of the company’s stock worth $1,376,000 after buying an additional 549 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in America’s Car-Mart during the first quarter worth about $708,000. Finally, Bank of Montreal Can acquired a new stake in America’s Car-Mart during the second quarter worth about $5,897,000. 91.65% of the stock is currently owned by institutional investors and hedge funds.
America’s Car-Mart Inc. (NASDAQ:CRMT) traded up 1.06% during trading on Wednesday, hitting $37.22. The company had a trading volume of 10,537 shares. The company has a market capitalization of $291.66 million, a price-to-earnings ratio of 22.53 and a beta of 1.16. The stock has a 50-day moving average of $38.05 and a 200 day moving average of $30.27. America’s Car-Mart Inc. has a one year low of $19.49 and a one year high of $43.07.
America’s Car-Mart (NASDAQ:CRMT) last released its earnings results on Thursday, August 18th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.41. America’s Car-Mart had a return on equity of 7.45% and a net margin of 2.47%. The business had revenue of $145.80 million for the quarter, compared to analyst estimates of $154.36 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. America’s Car-Mart’s revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that America’s Car-Mart Inc. will post $2.70 EPS for the current fiscal year.
CRMT has been the topic of a number of research analyst reports. Jefferies Group raised their target price on America’s Car-Mart from $22.00 to $37.00 and gave the company a “hold” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded America’s Car-Mart from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Janney Montgomery Scott reiterated a “hold” rating on shares of America’s Car-Mart in a research report on Thursday, September 22nd. Six research analysts have rated the stock with a hold rating, America’s Car-Mart currently has a consensus rating of “Hold” and a consensus price target of $29.00.
In other America’s Car-Mart news, Director John David Simmons sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $36.80, for a total transaction of $138,000.00. Following the transaction, the director now owns 17,129 shares of the company’s stock, valued at $630,347.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William H. Henderson sold 3,476 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $37.00, for a total value of $128,612.00. Following the transaction, the chief executive officer now directly owns 80,460 shares in the company, valued at approximately $2,977,020. The disclosure for this sale can be found here. Corporate insiders own 14.00% of the company’s stock.
America’s Car-Mart Company Profile
America’s Car-Mart, Inc is an automotive retailer in the United States focused on the integrated auto sales and finance segment of the used car market. The Company conducts its operations through its two operating subsidiaries, America’s Car Mart, Inc, an Arkansas corporation (Car-Mart of Arkansas), and Colonial Auto Finance, Inc, an Arkansas corporation (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).
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