America’s Car-Mart, Inc. (NASDAQ:CRMT) Short Interest Down 6.5% in August

America’s Car-Mart, Inc. (NASDAQ:CRMT) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 809,700 shares, a decrease of 6.5% from the August 15th total of 866,200 shares. Currently, 14.2% of the shares of the company are sold short. Based on an average trading volume of 87,100 shares, the short-interest ratio is currently 9.3 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRMT shares. StockNews.com raised America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. BTIG Research began coverage on America’s Car-Mart in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, America’s Car-Mart has an average rating of “Hold” and an average price target of $66.00.

America’s Car-Mart Price Performance

Shares of NASDAQ:CRMT traded up $0.04 during trading on Wednesday, hitting $49.31. 3,183 shares of the company were exchanged, compared to its average volume of 93,684. The company has a market cap of $315.19 million, a PE ratio of -9.95, a P/E/G ratio of 0.77 and a beta of 1.68. The stock has a 50 day moving average of $60.39 and a 200 day moving average of $60.71. America’s Car-Mart has a 52-week low of $45.40 and a 52-week high of $93.63.

America’s Car-Mart (NASDAQ:CRMT) last posted 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). The company had revenue of $347.76 million for the quarter, compared to analysts’ expectations of $338.78 million. America’s Car-Mart had a negative return on equity of 7.75% and a negative net margin of 2.66%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Sell-side analysts forecast that America’s Car-Mart will post 1.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRMT. Magnolia Group LLC increased its position in shares of America’s Car-Mart by 14.1% in the first quarter. Magnolia Group LLC now owns 719,950 shares of the company’s stock worth $45,983,000 after purchasing an additional 88,899 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of America’s Car-Mart in the 2nd quarter worth $1,449,000. BNP Paribas Financial Markets raised its position in shares of America’s Car-Mart by 121.0% during the 1st quarter. BNP Paribas Financial Markets now owns 38,259 shares of the company’s stock valued at $2,444,000 after buying an additional 20,949 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of America’s Car-Mart by 459.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 22,267 shares of the company’s stock worth $1,341,000 after acquiring an additional 18,290 shares during the last quarter. Finally, Kings Path Partners LLC bought a new stake in shares of America’s Car-Mart during the 2nd quarter worth $468,000. Institutional investors own 89.10% of the company’s stock.

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.