Cornerstone Investment Partners LLC Takes Position in America’s Car-Mart, Inc. $CRMT

Cornerstone Investment Partners LLC bought a new position in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,957 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in America’s Car-Mart by 9.4% in the 1st quarter. Bank of New York Mellon Corp now owns 21,894 shares of the company’s stock valued at $994,000 after acquiring an additional 1,889 shares during the last quarter. Vanguard Group Inc. grew its position in shares of America’s Car-Mart by 3.3% during the first quarter. Vanguard Group Inc. now owns 440,347 shares of the company’s stock valued at $19,987,000 after purchasing an additional 13,895 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of America’s Car-Mart by 14.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 86,494 shares of the company’s stock worth $3,926,000 after purchasing an additional 10,607 shares during the last quarter. Nuveen LLC bought a new stake in shares of America’s Car-Mart in the first quarter worth about $939,000. Finally, American Century Companies Inc. lifted its position in shares of America’s Car-Mart by 18.8% in the first quarter. American Century Companies Inc. now owns 13,706 shares of the company’s stock worth $622,000 after buying an additional 2,173 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRMT. Weiss Ratings restated a “sell (d)” rating on shares of America’s Car-Mart in a report on Wednesday, October 8th. Wall Street Zen upgraded America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Stephens reduced their price target on shares of America’s Car-Mart from $67.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, America’s Car-Mart presently has a consensus rating of “Hold” and an average price target of $45.00.

America’s Car-Mart Price Performance

NASDAQ:CRMT opened at $20.65 on Friday. The firm has a market capitalization of $170.98 million, a price-to-earnings ratio of 13.32 and a beta of 1.23. The business has a 50 day simple moving average of $29.93 and a 200-day simple moving average of $43.45. America’s Car-Mart, Inc. has a 1 year low of $19.90 and a 1 year high of $62.72.

America’s Car-Mart (NASDAQ:CRMT) last released its earnings results on Thursday, September 4th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of $0.69 by ($1.38). The company had revenue of $125.45 million for the quarter, compared to the consensus estimate of $350.35 million. America’s Car-Mart had a net margin of 0.95% and a return on equity of 1.08%. As a group, analysts expect that America’s Car-Mart, Inc. will post 0.86 earnings per share for the current fiscal year.

America’s Car-Mart Company 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.