Anthracite Investment Company Inc. Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Anthracite Investment Company Inc. cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the business services provider’s stock after selling 15,000 shares during the period. Anthracite Investment Company Inc.’s holdings in Copart were worth $1,722,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Madison Investment Advisors LLC bought a new stake in Copart during the fourth quarter valued at about $253,686,000. Bank of New York Mellon Corp boosted its position in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Franklin Resources Inc. raised its position in shares of Copart by 335.8% during the 3rd 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 period. Raymond James Financial Inc. purchased a new position in shares of Copart during the 4th quarter valued at $69,162,000. Finally, Amundi boosted its stake in shares of Copart by 18.2% in the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after acquiring an additional 1,090,841 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,480 shares of company stock worth $21,667,683. Company insiders own 9.68% of the company’s stock.

Copart Trading Up 1.0 %

Shares of NASDAQ CPRT opened at $55.59 on Wednesday. The stock has a market capitalization of $53.71 billion, a price-to-earnings ratio of 37.31 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 price is $56.40 and its 200-day moving average price is $56.11.

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

Wall Street Analyst Weigh In

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research note 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.