Copart (CPRT) : Force Capital Management reduced its stake in Copart by 59.55% during the most recent quarter end. The investment management company now holds a total of 353,336 shares of Copart which is valued at $17,885,868 after selling 520,158 shares in Copart , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Copart makes up approximately 13.50% of Force Capital Management’s portfolio.
Other Hedge Funds, Including , Price T Rowe Associates Inc Md reduced its stake in CPRT by selling 7,730 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 579,734 shares of CPRT which is valued at $29,346,135. Copart makes up approx 0.01% of Price T Rowe Associates Inc Md’s portfolio.Timessquare Capital Management reduced its stake in CPRT by selling 133,075 shares or 7.21% in the most recent quarter. The Hedge Fund company now holds 1,711,725 shares of CPRT which is valued at $86,647,520. Copart makes up approx 0.55% of Timessquare Capital Management’s portfolio.Penserra Capital Management boosted its stake in CPRT in the latest quarter, The investment management firm added 15,681 additional shares and now holds a total of 15,837 shares of Copart which is valued at $802,619. Copart makes up approx 0.10% of Penserra Capital Management’s portfolio.Stephens Investment Management Group reduced its stake in CPRT by selling 2,685 shares or 6.69% in the most recent quarter. The Hedge Fund company now holds 37,445 shares of CPRT which is valued at $1,909,695. Copart makes up approx 0.06% of Stephens Investment Management Group’s portfolio.Sg Americas Securities reduced its stake in CPRT by selling 6,815 shares or 18.97% in the most recent quarter. The Hedge Fund company now holds 29,108 shares of CPRT which is valued at $1,455,400. Copart makes up approx 0.01% of Sg Americas Securities’s portfolio.
Copart opened for trading at $51.21 and hit $51.45 on the upside on Thursday, eventually ending the session at $51.23, with a gain of 0.41% or 0.21 points. The heightened volatility saw the trading volume jump to 6,59,204 shares. Company has a market cap of $5,604 M.
On the company’s financial health, Copart reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 25, 2016. Analyst had a consensus of $0.54. The company had revenue of $347.20 million for the quarter, compared to analysts expectations of $320.52 million. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Copart. Susquehanna Initiated Copart on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $53.Copart was Downgraded by Northcoast to ” Neutral” on Aug 25, 2016.
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). It sells vehicles primarily to insurance companies and also to banks and financial institutions charities car dealerships fleet operators and vehicle rental companies. It sells the vehicles to licensed vehicle dismantlers rebuilders repair licensees used vehicle dealers and exporters and at certain locations to the general public. The Company that sells vehicles on behalf of insurance companies are either damaged vehicles deemed a total loss or not economically repairable by the insurance companies or are recovered stolen vehicles.