America’s Car-Mart, Inc. (NASDAQ:CRMT) Sees Significant Decrease in Short Interest

America’s Car-Mart, Inc. (NASDAQ:CRMT) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 995,200 shares, a decline of 7.0% from the May 15th total of 1,070,000 shares. Based on an average trading volume of 101,700 shares, the days-to-cover ratio is currently 9.8 days. Approximately 17.4% of the company’s stock are sold short.

Insider Activity at America’s Car-Mart

In other news, major shareholder Adam K. Peterson bought 13,550 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $57.87 per share, for a total transaction of $784,138.50. Following the completion of the acquisition, the insider now owns 742,000 shares in the company, valued at $42,939,540. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other America’s Car-Mart news, major shareholder Adam K. Peterson purchased 13,550 shares of the stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $57.87 per share, with a total value of $784,138.50. Following the completion of the transaction, the insider now directly owns 742,000 shares in the company, valued at $42,939,540. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas W. Jr. Campbell acquired 3,229 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was acquired at an average cost of $61.62 per share, with a total value of $198,970.98. Following the completion of the transaction, the chief executive officer now owns 70,841 shares of the company’s stock, valued at $4,365,222.42. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 25,279 shares of company stock valued at $1,474,834. 14.10% of the stock is owned by insiders.

Institutional Investors Weigh In On America’s Car-Mart

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC acquired a new position in America’s Car-Mart during the fourth quarter worth about $25,000. Quest Partners LLC acquired a new position in America’s Car-Mart during the 4th quarter worth approximately $48,000. EntryPoint Capital LLC bought a new position in America’s Car-Mart in the 1st quarter valued at approximately $178,000. Louisiana State Employees Retirement System acquired a new stake in America’s Car-Mart in the fourth quarter valued at approximately $220,000. Finally, WINTON GROUP Ltd bought a new stake in shares of America’s Car-Mart during the third quarter worth $231,000. 89.10% of the stock is currently owned by institutional investors.

America’s Car-Mart Trading Down 6.4 %

America’s Car-Mart stock traded down $3.97 during trading hours on Tuesday, reaching $57.81. 292,136 shares of the stock were exchanged, compared to its average volume of 99,709. America’s Car-Mart has a twelve month low of $55.00 and a twelve month high of $127.96. The company has a market cap of $369.41 million, a P/E ratio of -12.33, a price-to-earnings-growth ratio of 2.20 and a beta of 1.67. The stock has a 50 day moving average of $60.35 and a two-hundred day moving average of $63.45.

Wall Street Analysts Forecast Growth

CRMT has been the topic of several research analyst reports. Bank of America lowered their price target on shares of America’s Car-Mart from $55.00 to $50.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. BTIG Research began coverage on America’s Car-Mart in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $66.00.

About America’s Car-Mart

America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer 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.