West Coast Financial buys $5,223,600 stake in Copart (CPRT)

Copart (CPRT) : West Coast Financial scooped up 768 additional shares in Copart during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 104,472 shares of Copart which is valued at $5,223,600.Copart makes up approximately 1.82% of West Coast Financial’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc boosted its stake in CPRT in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 10,138 shares of Copart which is valued at $506,900.

Copart closed down -0.6 points or -1.18% at $50.4 with 3,74,100 shares getting traded on Monday. Post opening the session at $51, the shares hit an intraday low of $50.37 and an intraday high of $51.05 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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.

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