Americas Carmart

CRMT on Nasdaq. Market value $8m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

Read the warning sign in its own filings

This is not advice.

Compare with another stock

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 74 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

  • at least 10.0%
    (filed with 2 related holders)
    Since 30 October 2025
  • at least 7.8%
    (filed with 2 related holders)
    Since 10 March 2025
  • at least 6.7%
    (filed with 1 related holder)
    Since 30 June 2026
  • Magnolia Capital Fund, LP
    Passive investor
    at least 6.6%−6.9 pts
    (filed with 2 related holders)
    Since 31 August 2026
  • MIT Investments 2010, LP
    Passive investor
    at least 5.0%
    (filed with 3 related holders)
    Since 30 June 2026
  • at least 2.7%−4.5 pts
    (filed with 4 related holders)
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    Sold down below 5%
    Since 30 June 2026
  • FMR LLC
    Passive investor
    Sold down below 5%
    Since 30 September 2025
  • ASKELADDEN CAPITAL MANAGEMENT LLC
    Passive investor
    Sold down below 5%
    Since 8 April 2026
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $4,978 of shares on the open market.

  • Collins Jonathan M.
    Chief Financial Officer
    Bought
    Date
    11 December 2025
    Shares
    197
    Price
    $25.27
    Value
    $4,978

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

2 serious warning signs in Americas Carmart’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 14 Jul 2026, plus the 10-Q filed 9 Sep 2026 and 7 later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “These conditions collectively raise substantial doubt about the Company’s ability to continue as a going concern.”
    Show the full paragraph
    If the Company fails to satisfy these milestones or the other conditions of the Amendment, or is unable to obtain further covenant relief, waivers, forbearance or financing prior to the expiration of the relief period, the lenders would be entitled to exercise remedies under the Credit and Guaranty Agreement, including acceleration of the outstanding indebtedness, which could trigger cross-default or cross-acceleration provisions under the Company’s other financing arrangements, and the Company would not have sufficient liquidity to repay such indebtedness if it were accelerated. The Company also does not currently have a revolving warehouse facility or any other additional financing available to fund the origination of finance receivables, which constrains its ability to originate new finance receivables and to serve customer demand. In addition, a Special Committee of the Company’s Board of Directors, with the assistance of independent financial and legal advisors, is conducting a review of strategic and financing alternatives intended to address the Company’s liquidity and capital structure. These conditions collectively raise substantial doubt about the Company’s ability to continue as a going concern.

    From the 10-Q filed 9 September 2026, Part I, Item 1. Financial Statements. Read it in the filing

  • Its past accounts can't be relied on

    Serious

    It told the SEC its earlier accounts should no longer be relied on, usually because they contained errors.

    8-K Item 4.02 filed 30 Jul 2025: the company said its earlier financial statements should no longer be relied on.

    From an 8-K filed 30 July 2025: Previously issued accounts should no longer be relied on. Open the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from

The company just told the SEC about a big change. The deep dive shows what it means for the price you pay.

Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.