Cornerstone Investment Partners LLC Acquires 1,423 Shares of America’s Car-Mart, Inc. (NASDAQ:CRMT)

Cornerstone Investment Partners LLC boosted its holdings in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 56.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,963 shares of the company’s stock after purchasing an additional 1,423 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in America’s Car-Mart were worth $300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRMT. Everence Capital Management Inc. bought a new stake in America’s Car-Mart in the 4th quarter worth approximately $246,000. Louisiana State Employees Retirement System bought a new stake in America’s Car-Mart in the 4th quarter worth approximately $220,000. WCM Investment Management LLC increased its stake in America’s Car-Mart by 14.0% in the 4th quarter. WCM Investment Management LLC now owns 220,271 shares of the company’s stock worth $17,505,000 after acquiring an additional 27,027 shares during the last quarter. Values First Advisors Inc. increased its stake in America’s Car-Mart by 7.0% in the 4th quarter. Values First Advisors Inc. now owns 6,165 shares of the company’s stock worth $467,000 after acquiring an additional 404 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in America’s Car-Mart by 6.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,656 shares of the company’s stock worth $277,000 after acquiring an additional 225 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Insider Transactions at America’s Car-Mart

In related news, major shareholder Adam K. Peterson purchased 13,550 shares of America’s Car-Mart stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of $57.87 per share, with a total value of $784,138.50. Following the transaction, the insider now owns 742,000 shares in the company, valued at approximately $42,939,540. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other America’s Car-Mart news, major shareholder Adam K. Peterson bought 13,550 shares of America’s Car-Mart stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $57.87 per share, with a total value of $784,138.50. Following the transaction, the insider now directly owns 742,000 shares of the company’s stock, valued at approximately $42,939,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson bought 18,148 shares of America’s Car-Mart stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average cost of $59.71 per share, for a total transaction of $1,083,617.08. Following the completion of the transaction, the insider now directly owns 649,199 shares in the company, valued at $38,763,672.29. The disclosure for this purchase can be found here. In the last three months, insiders purchased 83,073 shares of company stock valued at $4,966,061. Corporate insiders own 14.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRMT shares. Bank of America reduced their price objective on America’s Car-Mart from $55.00 to $50.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Stephens reiterated an “equal weight” rating and issued a $82.00 target price on shares of America’s Car-Mart in a report on Tuesday, February 6th.

America’s Car-Mart Price Performance

Shares of CRMT stock traded up $1.66 during mid-day trading on Friday, hitting $57.82. The stock had a trading volume of 29,189 shares, compared to its average volume of 119,904. America’s Car-Mart, Inc. has a 12-month low of $55.00 and a 12-month high of $127.96. The firm’s 50-day moving average is $62.59 and its two-hundred day moving average is $68.59.

America’s Car-Mart (NASDAQ:CRMT) last released its quarterly earnings results on Friday, March 8th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.24). The company had revenue of $299.60 million during the quarter, compared to the consensus estimate of $350.95 million. America’s Car-Mart had a negative return on equity of 6.10% and a negative net margin of 2.10%. The company’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, analysts predict that America’s Car-Mart, Inc. will post -4.9 EPS for the current fiscal year.

America’s Car-Mart Company Profile

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.