America’s Car-Mart (NASDAQ:CRMT) Posts Earnings Results, Misses Estimates By $5.98 EPS

America’s Car-Mart (NASDAQ:CRMT) posted its earnings results on Wednesday. The company reported ($6.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($5.98), Zacks reports. America’s Car-Mart had a negative net margin of 10.50% and a negative return on equity of 4.09%.

America’s Car-Mart Stock Up 3.8%

Shares of CRMT stock opened at $2.49 on Wednesday. America’s Car-Mart has a 12 month low of $1.38 and a 12 month high of $37.74. The firm has a market cap of $21.56 million, a price-to-earnings ratio of -0.15 and a beta of 1.27. The stock has a 50-day moving average price of $3.05 and a 200 day moving average price of $8.65.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRMT. Weiss Ratings upgraded America’s Car-Mart from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Wall Street Zen raised shares of America’s Car-Mart from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Finally, BTIG Research reissued a “neutral” rating on shares of America’s Car-Mart in a report on Monday, June 15th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $14.00.

Hedge Funds Weigh In On America’s Car-Mart

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in America’s Car-Mart during the first quarter valued at approximately $209,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in America’s Car-Mart by 6.3% during the 1st 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 in the last quarter. Jones Financial Companies Lllp lifted its stake in America’s Car-Mart by 492.5% in the first quarter. Jones Financial Companies Lllp now owns 1,191 shares of the company’s stock valued at $54,000 after buying an additional 990 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of America’s Car-Mart by 11.0% in the first quarter. Goldman Sachs Group Inc. now owns 195,860 shares of the company’s stock valued at $8,890,000 after buying an additional 19,389 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of America’s Car-Mart by 11.7% in the second quarter. Rhumbline Advisers now owns 11,693 shares of the company’s stock valued at $655,000 after buying an additional 1,229 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

About America’s Car-Mart

America’s Car-Mart, Inc operates as a retailer and financer of used automobiles, specializing in serving customers with limited credit histories through an in-house “buy-here, pay-here” financing model. The company’s dealerships offer a selection of late-model, pre-owned vehicles across a range of makes and models, supported by on-site service centers and extended warranty products. In addition to vehicle sales, America’s Car-Mart generates revenue from finance charges, insurance products and ancillary services such as GAP coverage and credit life and disability insurance.

Founded in 1981 in Forrest City, Arkansas, America’s Car-Mart has grown from a single dealership into a publicly traded company listed on the Nasdaq under the ticker CRMT.