Amalgamated Bank Grows Stake in Copart, Inc. (CPRT)

Amalgamated Bank lifted its position in Copart, Inc. (NASDAQ:CPRT) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,495 shares of the business services provider’s stock after buying an additional 2,726 shares during the period. Amalgamated Bank’s holdings in Copart were worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Copart by 4.7% in the 1st quarter. BlackRock Inc. now owns 17,080,908 shares of the business services provider’s stock worth $869,932,000 after buying an additional 760,714 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Copart by 8.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,778,042 shares of the business services provider’s stock worth $447,066,000 after buying an additional 689,731 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Copart by 2.1% in the 4th quarter. Alliancebernstein L.P. now owns 6,985,582 shares of the business services provider’s stock worth $301,707,000 after buying an additional 142,202 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Copart by 0.5% in the 1st quarter. Wells Fargo & Company MN now owns 2,800,432 shares of the business services provider’s stock worth $142,625,000 after purchasing an additional 13,378 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Copart by 2.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,818,956 shares of the business services provider’s stock worth $78,561,000 after purchasing an additional 39,557 shares during the period. Hedge funds and other institutional investors own 79.89% of the company’s stock.

Shares of Copart stock opened at $59.91 on Monday. Copart, Inc. has a one year low of $30.30 and a one year high of $60.43. The firm has a market capitalization of $13.84 billion, a P/E ratio of 35.67, a P/E/G ratio of 1.45 and a beta of 0.99. The company has a current ratio of 2.33, a quick ratio of 2.27 and a debt-to-equity ratio of 0.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, May 23rd. The business services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $478.20 million for the quarter, compared to analysts’ expectations of $434.74 million. Copart had a return on equity of 31.21% and a net margin of 21.81%. During the same period last year, the firm earned $0.38 earnings per share. analysts forecast that Copart, Inc. will post 1.79 earnings per share for the current year.

A number of equities analysts recently commented on CPRT shares. Stephens set a $54.00 target price on Copart and gave the stock a “buy” rating in a report on Tuesday, February 27th. SunTrust Banks started coverage on Copart in a report on Thursday, March 22nd. They issued a “buy” rating and a $58.00 target price on the stock. Guggenheim started coverage on Copart in a report on Tuesday, April 17th. They issued a “buy” rating and a $58.00 target price on the stock. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Finally, BidaskClub cut Copart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Copart has an average rating of “Buy” and an average price target of $50.63.

In other Copart news, insider William E. Franklin sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $57.52, for a total transaction of $5,752,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey Liaw sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $58.41, for a total value of $1,752,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,000 shares of company stock worth $31,686,500. Insiders own 16.40% of the company’s stock.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply