America’s Car-Mart, Inc. $CRMT Shares Sold by Magnolia Group LLC

Magnolia Group LLC cut its stake in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 49.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 569,189 shares of the company’s stock after selling 550,686 shares during the period. America’s Car-Mart makes up 0.2% of Magnolia Group LLC’s holdings, making the stock its 23rd biggest holding. Magnolia Group LLC owned approximately 0.07% of America’s Car-Mart worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Engineers Gate Manager LP lifted its holdings in shares of 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 holdings in America’s Car-Mart by 734.9% in the 2nd quarter. Hsbc Holdings PLC now owns 105,794 shares of the company’s stock valued at $295,000 after purchasing an additional 93,122 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in America’s Car-Mart in the 2nd quarter valued at approximately $1,798,674. Massachusetts Institute of Technology purchased a new stake in America’s Car-Mart in the second quarter valued at approximately $467,000. Finally, BlackRock Inc. purchased a new stake in America’s Car-Mart in the second quarter valued at approximately $708,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

America’s Car-Mart Price Performance

Shares of CRMT opened at $0.96 on Thursday. The company’s 50-day simple moving average is $1.32 and its 200-day simple moving average is $8.33. America’s Car-Mart, Inc. has a 1 year low of $0.57 and a 1 year high of $28.70.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($6.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($5.98). America’s Car-Mart had a negative net margin of 18.21% and a negative return on equity of 15.19%. The business had revenue of $89.90 million during the quarter, compared to analyst estimates of $253.03 million.

Wall Street Analyst Weigh In

CRMT has been the topic of a number of research reports. Weiss Ratings cut America’s Car-Mart from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Wall Street Zen raised America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $14.00.

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.