Renaissance Technologies LLC Reduces Position in America’s Car-Mart, Inc. (NASDAQ:CRMT)

Renaissance Technologies LLC lessened its stake in shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) by 56.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,472 shares of the company’s stock after selling 25,100 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of America’s Car-Mart worth $1,172,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BOKF NA boosted its holdings in shares of America’s Car-Mart by 15.2% in the 2nd quarter. BOKF NA now owns 28,434 shares of the company’s stock valued at $1,712,000 after acquiring an additional 3,760 shares during the last quarter. American Century Companies Inc. raised its position in shares of America’s Car-Mart by 12.1% in the second quarter. American Century Companies Inc. now owns 8,371 shares of the company’s stock valued at $504,000 after buying an additional 905 shares during the last quarter. Magnolia Group LLC raised its position in shares of America’s Car-Mart by 6.7% in the second quarter. Magnolia Group LLC now owns 768,410 shares of the company’s stock valued at $46,266,000 after buying an additional 48,460 shares during the last quarter. Foster & Motley Inc. raised its position in shares of America’s Car-Mart by 20.3% in the second quarter. Foster & Motley Inc. now owns 6,525 shares of the company’s stock valued at $393,000 after buying an additional 1,100 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of America’s Car-Mart by 4.0% in the second quarter. Rhumbline Advisers now owns 10,006 shares of the company’s stock valued at $602,000 after buying an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

America’s Car-Mart Price Performance

Shares of America’s Car-Mart stock opened at $42.38 on Friday. The firm’s fifty day simple moving average is $54.28 and its 200-day simple moving average is $58.92. America’s Car-Mart, Inc. has a 12 month low of $39.60 and a 12 month high of $91.64. The stock has a market capitalization of $270.89 million, a price-to-earnings ratio of -8.56, a PEG ratio of 0.78 and a beta of 1.67.

America’s Car-Mart (NASDAQ:CRMT) last released its quarterly 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 firm had revenue of $347.76 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. Analysts anticipate that America’s Car-Mart, Inc. will post 1.37 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, America’s Car-Mart has a consensus rating of “Hold” and a consensus target price of $66.00.

Insider Activity at America’s Car-Mart

In related news, major shareholder Adam K. Peterson acquired 813,953 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $43.00 per share, with a total value of $34,999,979.00. Following the purchase, the insider now directly owns 1,582,363 shares in the company, valued at $68,041,609. The trade was a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Joshua G. Welch purchased 23,255 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $43.00 per share, for a total transaction of $999,965.00. Following the acquisition, the director now directly owns 148,955 shares in the company, valued at $6,405,065. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Adam K. Peterson purchased 813,953 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were bought at an average cost of $43.00 per share, with a total value of $34,999,979.00. Following the transaction, the insider now directly owns 1,582,363 shares of the company’s stock, valued at approximately $68,041,609. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. 14.10% of the stock is currently owned by corporate insiders.

America’s Car-Mart 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.