Apollon Wealth Management LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Apollon Wealth Management LLC trimmed its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 47.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,660 shares of the business services provider's stock after selling 19,299 shares during the quarter. Apollon Wealth Management LLC's holdings in Copart were worth $1,135,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors lifted its holdings in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank purchased a new stake in Copart during the 3rd quarter valued at $29,000. Crewe Advisors LLC boosted its stake in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after buying an additional 280 shares during the period. Meeder Asset Management Inc. increased its position in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock valued at $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider's stock valued at $32,000 after acquiring an additional 492 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 1.2 %

Shares of Copart stock traded down $0.67 on Friday, reaching $56.67. The stock had a trading volume of 3,040,860 shares, compared to its average volume of 4,393,464. The stock has a market capitalization of $54.59 billion, a P/E ratio of 41.25 and a beta of 1.27. The company has a 50 day moving average price of $52.84 and a 200 day moving average price of $53.11. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price objective on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th.

Copart 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.