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

Cornerstone Investment Partners LLC bought a new stake in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) in the 2nd quarter, Holdings Channel reports. The firm bought 3,957 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in shares of America’s Car-Mart by 492.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,191 shares of the company’s stock worth $54,000 after acquiring an additional 990 shares during the last quarter. AlphaQuest LLC increased its stake in America’s Car-Mart by 1,316.3% in the first quarter. AlphaQuest LLC now owns 1,997 shares of the company’s stock worth $91,000 after purchasing an additional 1,856 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of America’s Car-Mart by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,310 shares of the company’s stock worth $196,000 after purchasing an additional 255 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of America’s Car-Mart during the first quarter worth $209,000. Finally, Flaharty Asset Management LLC boosted its stake in shares of America’s Car-Mart by 21.4% during the first quarter. Flaharty Asset Management LLC now owns 8,500 shares of the company’s stock valued at $386,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRMT. 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 note on Friday, September 5th. Wall Street Zen raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of America’s Car-Mart in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $45.00.

America’s Car-Mart Stock Down 4.9%

Shares of NASDAQ:CRMT opened at $20.65 on Friday. The firm has a 50 day moving average of $29.93 and a 200 day moving average of $43.45. The company has a market capitalization of $170.98 million, a price-to-earnings ratio of 13.32 and a beta of 1.23. America’s Car-Mart, Inc. has a 52 week low of $19.90 and a 52 week high of $62.72.

America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Thursday, September 4th. The company reported ($0.69) earnings per share (EPS) 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%. On average, sell-side analysts expect that America’s Car-Mart, Inc. will post 0.86 EPS for the current 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.