Copart Inc. (CPRT) Position Decreased by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC reduced its position in shares of Copart Inc. (NASDAQ:CPRT) by 41.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 20,889 shares of the company’s stock after selling 14,589 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Copart were worth $1,005,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Lazard Asset Management LLC boosted its position in Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock worth $283,924,000 after buying an additional 2,330,220 shares in the last quarter. MIG Capital LLC boosted its position in Copart by 12.3% in the first quarter. MIG Capital LLC now owns 836,438 shares of the company’s stock worth $34,102,000 after buying an additional 91,746 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Copart by 1,216.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 786,168 shares of the company’s stock worth $38,530,000 after buying an additional 726,456 shares in the last quarter. Geode Capital Management LLC boosted its position in Copart by 1.5% in the first quarter. Geode Capital Management LLC now owns 670,565 shares of the company’s stock worth $27,338,000 after buying an additional 10,107 shares in the last quarter. Finally, Kimelman & Baird LLC boosted its position in Copart by 1.9% in the first quarter. Kimelman & Baird LLC now owns 664,028 shares of the company’s stock worth $27,072,000 after buying an additional 12,224 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.
Copart Inc. (NASDAQ:CPRT) traded up 1.50% during mid-day trading on Monday, hitting $54.27. The company had a trading volume of 275,694 shares. The stock has a market capitalization of $6.20 billion, a PE ratio of 24.56 and a beta of 0.95. The stock has a 50 day moving average price of $52.09 and a 200-day moving average price of $47.82. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $332.70 million for the quarter. Copart had a net margin of 21.25% and a return on equity of 31.42%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, analysts forecast that Copart Inc. will post $2.42 earnings per share for the current year.
A number of research analysts recently commented on CPRT shares. Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $63.00 in a research note on Friday, September 23rd. Jefferies Group reaffirmed a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Susquehanna initiated coverage on Copart in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective on the stock. Finally, Barrington Research cut 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 given a buy rating to the stock. The company 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 value of $628,346.92. Following the sale, the senior vice president now owns 9,703 shares in the company, valued at approximately $484,761.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 company insiders.
Copart Company Profile
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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