Two Sigma Investments LP Raises Stake in Copart, Inc. (CPRT)
Two Sigma Investments LP grew its position in Copart, Inc. (NASDAQ:CPRT) by 876.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 751,834 shares of the business services provider’s stock after buying an additional 674,828 shares during the quarter. Two Sigma Investments LP’s holdings in Copart were worth $32,472,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new stake in shares of Copart in the fourth quarter valued at $101,000. YorkBridge Wealth Partners LLC acquired a new stake in shares of Copart in the fourth quarter valued at $108,000. Assetmark Inc. acquired a new position in Copart during the 4th quarter worth $196,000. Private Advisor Group LLC acquired a new position in Copart during the 3rd quarter worth $200,000. Finally, Nadler Financial Group Inc. acquired a new position in Copart during the 4th quarter worth $216,000. 81.04% of the stock is owned by institutional investors and hedge funds.
CPRT has been the subject of several analyst reports. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, November 21st. Jefferies Group boosted their target price on Copart to $40.00 and gave the stock a “hold” rating in a research note on Thursday, November 23rd. JPMorgan Chase & Co. boosted their target price on Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 24th. Robert W. Baird reissued a “buy” rating and set a $44.00 target price on shares of Copart in a research note on Friday, November 24th. Finally, Gabelli reissued a “hold” rating on shares of Copart in a research note on Friday, November 24th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.17.
Copart (NASDAQ:CPRT) last released its earnings results on Monday, February 26th. The business services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The firm had revenue of $459.11 million during the quarter, compared to analysts’ expectations of $427.11 million. Copart had a return on equity of 30.94% and a net margin of 20.95%. Copart’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. analysts anticipate that Copart, Inc. will post 1.74 earnings per share for the current fiscal year.
In other Copart news, Director Daniel J. Englander sold 68,004 shares of Copart stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total transaction of $2,950,013.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.40% of the stock is owned by insiders.
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Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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