Townsquare Capital LLC Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Townsquare Capital LLC grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,948 shares of the business services provider's stock after purchasing an additional 17,823 shares during the quarter. Townsquare Capital LLC's holdings in Copart were worth $11,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Copart in the fourth quarter worth about $682,089,000. Madison Investment Advisors LLC bought a new position in shares of Copart during the fourth quarter worth $253,686,000. Bank of New York Mellon Corp grew its stake in Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares in the last quarter. Edgewood Management LLC increased its holdings in Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after acquiring an additional 2,907,405 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

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Copart Price Performance

Shares of NASDAQ CPRT traded up $0.62 during midday trading on Tuesday, reaching $60.45. 4,783,587 shares of the stock traded hands, compared to its average volume of 4,402,273. The company's 50 day moving average is $56.17 and its 200 day moving average is $56.75. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The stock has a market capitalization of $58.40 billion, a PE ratio of 40.57 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In related news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock worth $11,401,000 over the last ninety days. Company insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.