Mount Lucas Management LP Sells 1,488 Shares of Copart, Inc. (NASDAQ:CPRT)

Mount Lucas Management LP lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,210 shares of the business services provider’s stock after selling 1,488 shares during the quarter. Mount Lucas Management LP’s holdings in Copart were worth $1,619,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Copart by 23.3% during the 4th 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 during the last quarter. Jensen Investment Management Inc. grew its stake in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares during the period. Franklin Resources Inc. increased its holdings in Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after purchasing an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Copart during the fourth quarter worth about $69,162,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 0.0 %

Shares of NASDAQ CPRT opened at $53.74 on Monday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company’s fifty day moving average is $57.16 and its 200-day moving average is $56.00. The stock has a market cap of $51.92 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Insider Activity at Copart

In other Copart news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last three months, insiders sold 315,480 shares of company stock worth $18,007,983. 9.68% of the stock is owned by company 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.