Quantbot Technologies LP Decreases Holdings in Copart, Inc. (NASDAQ:CPRT)

Quantbot Technologies LP trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 53.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,410 shares of the business services provider’s stock after selling 41,211 shares during the quarter. Quantbot Technologies LP’s holdings in Copart were worth $2,090,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Sandy Spring Bank raised its position 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 buying an additional 176 shares in the last quarter. Cadence Bank raised its position in shares of Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after buying an additional 178 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Copart by 3.2% during 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 holdings in 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 purchasing an additional 199 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock valued at $4,314,000 after purchasing an additional 200 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Trading Down 0.4 %

Shares of NASDAQ:CPRT opened at $53.63 on Monday. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 35.99 and a beta of 1.30. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The firm’s 50-day moving average is $56.43 and its 200 day moving average is $56.03.

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

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction dated 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 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 dated Wednesday, March 19th. The stock was 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. Insiders have sold 385,480 shares of company stock worth $21,667,683 in the last three months. Corporate insiders own 9.68% of the company’s stock.

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.