MD Financial Management Inc. boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,094 shares of the business services provider’s stock after buying an additional 2,244 shares during the quarter. MD Financial Management Inc.’s holdings in Copart were worth $2,233,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Morgan Stanley boosted its stake in Copart by 6.7% during the third quarter. Morgan Stanley now owns 625,194 shares of the business services provider’s stock worth $86,727,000 after buying an additional 39,269 shares during the period. Mariner LLC boosted its stake in Copart by 2.7% during the third quarter. Mariner LLC now owns 11,156 shares of the business services provider’s stock worth $1,548,000 after buying an additional 298 shares during the period. Zacks Investment Management boosted its stake in shares of Copart by 6.3% in the third quarter. Zacks Investment Management now owns 51,705 shares of the business services provider’s stock valued at $7,173,000 after purchasing an additional 3,059 shares during the period. Gobi Capital LLC boosted its stake in shares of Copart by 100.0% in the third quarter. Gobi Capital LLC now owns 1,871,832 shares of the business services provider’s stock valued at $259,660,000 after purchasing an additional 935,916 shares during the period. Finally, First Manhattan Co. boosted its stake in shares of Copart by 3.6% in the third quarter. First Manhattan Co. now owns 59,729 shares of the business services provider’s stock valued at $8,285,000 after purchasing an additional 2,095 shares during the period. 80.31% of the stock is owned by institutional investors.
Shares of Copart stock opened at $121.30 on Friday. Copart, Inc. has a 52-week low of $101.92 and a 52-week high of $161.12. The company has a 50 day moving average of $138.41 and a 200 day moving average of $143.58. The company has a quick ratio of 4.05, a current ratio of 4.15 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $28.77 billion, a P/E ratio of 29.30 and a beta of 1.12.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, November 17th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.06. Copart had a net margin of 34.25% and a return on equity of 28.37%. The company had revenue of $810.13 million during the quarter, compared to the consensus estimate of $742.23 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, research analysts anticipate that Copart, Inc. will post 4.24 earnings per share for the current fiscal year.
In other Copart news, Director Thomas N. Tryforos sold 69,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $149.63, for a total transaction of $10,324,470.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.18% of the stock is currently owned by company insiders.
Separately, Truist Financial raised their price objective on shares of Copart from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, November 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $154.25.
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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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