America's Car-Mart, Inc. $CRMT Shares Sold by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management LLC has reduced its holdings in America's Car-Mart, Inc. by 47.3%, owning 11,742 shares after selling 10,539 shares during the first quarter.
• The company's stock performance showed an EPS of $1.26 for the latest quarter, exceeding analysts' expectations, with a revenue of $370.17 million, a 1.5% increase from the previous year.
• Significant insider activity occurred as major shareholder Adam K. Peterson sold 88,000 shares for about $5 million, resulting in a 5.80% decrease in his position.

HITE Hedge Asset Management LLC lessened its stake in America's Car-Mart, Inc. (NASDAQ:CRMT - Free Report) by 47.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,742 shares of the company's stock after selling 10,539 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.14% of America's Car-Mart worth $533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in America's Car-Mart by 15,425.0% in the 1st quarter. GAMMA Investing LLC now owns 13,662 shares of the company's stock worth $620,000 after acquiring an additional 13,574 shares during the period. SG Americas Securities LLC acquired a new position in shares of America's Car-Mart in the 1st quarter valued at approximately $350,000. D. E. Shaw & Co. Inc. acquired a new position in shares of America's Car-Mart in the 4th quarter valued at approximately $710,000. Deutsche Bank AG raised its position in shares of America's Car-Mart by 109.4% in the 4th quarter. Deutsche Bank AG now owns 4,555 shares of the company's stock valued at $233,000 after purchasing an additional 2,380 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of America's Car-Mart by 63.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,254 shares of the company's stock valued at $218,000 after purchasing an additional 1,655 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

Insider Activity

In related news, major shareholder Adam K. Peterson sold 88,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $56.91, for a total transaction of $5,008,080.00. Following the sale, the insider directly owned 1,428,094 shares of the company's stock, valued at approximately $81,272,829.54. This represents a 5.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 154,269 shares of company stock worth $8,689,460. Corporate insiders own 19.60% of the company's stock.

America's Car-Mart Price Performance

Shares of CRMT stock traded up $2.76 on Friday, hitting $47.44. 120,797 shares of the stock traded hands, compared to its average volume of 91,588. The company has a market capitalization of $405.61 million, a PE ratio of 22.70 and a beta of 1.32. America's Car-Mart, Inc. has a 1-year low of $36.40 and a 1-year high of $63.33. The company's fifty day moving average is $51.55 and its 200 day moving average is $49.08.

America's Car-Mart (NASDAQ:CRMT - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.39. The business had revenue of $370.17 million for the quarter, compared to analyst estimates of $369.77 million. America's Car-Mart had a return on equity of 2.01% and a net margin of 1.29%.The business's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. As a group, equities research analysts expect that America's Car-Mart, Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered America's Car-Mart from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, America's Car-Mart has an average rating of "Strong Buy" and an average target price of $50.00.

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.