Morgan Dempsey Capital Management LLC Continues to Hold Stake in Copart Inc. (CPRT)
Morgan Dempsey Capital Management LLC continued to hold its stake in shares of Copart Inc. (NASDAQ:CPRT) during the second quarter, Holdings Channel reports. The fund owned 3,895 shares of the company’s stock at the end of the second quarter. Morgan Dempsey Capital Management LLC’s holdings in Copart were worth $191,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CPRT. Ancora Inverness LLC acquired a new stake in shares of Copart during the first quarter valued at $207,000. Fox Run Management L.L.C. acquired a new stake in shares of Copart during the second quarter valued at $250,000. Atria Investments LLC acquired a new stake in shares of Copart during the second quarter valued at $276,000. LS Investment Advisors LLC increased its stake in shares of Copart by 67.8% in the second quarter. LS Investment Advisors LLC now owns 6,149 shares of the company’s stock valued at $301,000 after buying an additional 2,484 shares in the last quarter. Finally, CIBC World Markets Inc. acquired a new stake in shares of Copart during the first quarter valued at $350,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Shares of Copart Inc. (NASDAQ:CPRT) traded down 0.41% during trading on Friday, reaching $53.47. The company’s stock had a trading volume of 959,859 shares. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 24.19 and a beta of 0.95. The company’s 50-day moving average price is $52.05 and its 200 day moving average price is $47.74. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The firm earned $332.70 million during the quarter. Copart had a net margin of 21.25% and a return on equity of 31.42%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Analysts anticipate that Copart Inc. will post $2.42 EPS for the current year.
Several analysts have recently weighed in on CPRT shares. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $63.00 in a research note on Friday, September 23rd. Jefferies Group reiterated a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Susquehanna assumed coverage on Copart in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price target for the company. Finally, Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.57.
In other Copart news, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total transaction of $628,346.92. Following the completion of the transaction, the senior vice president now owns 9,703 shares of the company’s stock, valued at approximately $484,761.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO A Jayson Adair sold 200,000 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $53.61, for a total transaction of $10,722,000.00. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by corporate insiders.
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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