Is America’s Car Mart (CRMT) a Good Long-Term Bet?
Investment management company River Oak Capital recently released its second-half 2023 investor letter. A copy of the same can be downloaded here. In 2023, the fund returned 8.3% compared to 26.3% for the S&P 500, 16.9% for the Russell 2000, and 9.3% for the Russell Microcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
River Oak Capital featured stocks such as America’s Car-Mart, Inc. (NASDAQ:CRMT) in its second half 2023 investor letter. Based in Rogers, Arkansas, America’s Car-Mart, Inc. (NASDAQ:CRMT) is an automotive retailer. On February 16, 2024, America’s Car-Mart, Inc. (NASDAQ:CRMT) stock closed at $62.62 per share. One-month return of America’s Car-Mart, Inc. (NASDAQ:CRMT) was -3.48%, and its shares lost 33.80% of their value over the last 52 weeks. America’s Car-Mart, Inc. (NASDAQ:CRMT) has a market capitalization of $400.32 million.
River Oak Capital stated the following regarding America’s Car-Mart, Inc. (NASDAQ:CRMT) in its second half 2023 investor letter:
"America’s Car-Mart, Inc. (NASDAQ:CRMT) is a deep sub-prime auto lender and car dealership. It is our eleventh largest position in the fund and now has a $450m market cap.
In September, it was announced that Jeff Williams will retire as CEO and Doug Campbell will be his replacement. Jeff has done an incredible job since taking over the company in 2018 with their book value increasing over 100%.
Jeff will remain on the board and help Doug in his transition to CEO. I have yet to meet Doug, but I plan on scheduling a trip to Arkansas soon! …”(Click here to read the full text)
A used vehicle being serviced by a mechanic, all the parts to keep it running optimally seen in the background.
America’s Car-Mart, Inc. (NASDAQ:CRMT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, America’s Car-Mart, Inc. (NASDAQ:CRMT) was held by 12 hedge fund portfolios, up from 11 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
