Bancreek Capital Management LP Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

Bancreek Capital Management LP lessened its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,899 shares of the business services provider's stock after selling 51,414 shares during the period. Copart comprises 6.7% of Bancreek Capital Management LP's portfolio, making the stock its 5th largest holding. Bancreek Capital Management LP's holdings in Copart were worth $6,824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Sandy Spring Bank increased its stake in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Cadence Bank raised its stake in Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider's stock worth $1,653,000 after purchasing an additional 178 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Copart by 3.2% in the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after purchasing an additional 184 shares during the last quarter. Everpar Advisors LLC grew its stake in shares of Copart by 4.3% during the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider's stock valued at $276,000 after buying an additional 199 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Copart by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock worth $4,314,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Separately, Argus downgraded Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Copart Stock Down 0.9 %

Shares of CPRT stock traded down $0.52 during mid-day trading on Wednesday, reaching $55.07. The company's stock had a trading volume of 3,767,134 shares, compared to its average volume of 4,013,563. The company's 50 day simple moving average is $56.40 and its 200-day simple moving average is $56.11. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a market capitalization of $53.20 billion, a PE ratio of 36.96 and a beta of 1.30.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other Copart news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,480 shares of company stock worth $21,667,683. 9.68% of the stock is currently owned by company insiders.

About Copart

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.