GAMMA Investing LLC Buys New Shares in Copart, Inc. (NASDAQ:CPRT)

GAMMA Investing LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,007 shares of the business services provider’s stock, valued at approximately $289,000.

A number of other institutional investors have also bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Copart in the third quarter worth $25,000. Manchester Capital Management LLC increased its position in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after purchasing an additional 314 shares during the last quarter. Bell Investment Advisors Inc raised its stake in Copart by 87.1% during the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares in the last quarter. Annapolis Financial Services LLC lifted its position in Copart by 100.0% during the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Copart by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock worth $34,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 1.1 %

Shares of NASDAQ:CPRT opened at $54.93 on Thursday. Copart, Inc. has a 12 month low of $38.35 and a 12 month high of $58.58. The company has a market capitalization of $52.82 billion, a price-to-earnings ratio of 39.52 and a beta of 1.22. The firm’s 50-day moving average is $54.62 and its 200 day moving average is $50.31.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average price target of $51.00.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is currently owned by insiders.

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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.