Twin Capital Management Inc. Sells 43,920 Shares of Copart, Inc. (NASDAQ:CPRT)

Twin Capital Management Inc. reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 38.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 70,860 shares of the business services provider’s stock after selling 43,920 shares during the quarter. Twin Capital Management Inc.’s holdings in Copart were worth $5,296,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CPRT. Cordasco Financial Network lifted its stake in Copart by 170.7% during the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after purchasing an additional 297 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in Copart during the first quarter worth $34,000. Meridian Wealth Management LLC bought a new stake in Copart during the first quarter worth $40,000. Kavar Capital Partners LLC bought a new stake in Copart during the second quarter worth $76,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Copart by 170.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 744 shares during the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.

NASDAQ CPRT traded up $0.31 on Thursday, reaching $74.62. The company had a trading volume of 37,655 shares, compared to its average volume of 1,215,999. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.50 and a beta of 0.82. Copart, Inc. has a fifty-two week low of $44.61 and a fifty-two week high of $79.74. The business has a 50 day moving average price of $76.35. The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 0.25.



Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The business had revenue of $553.12 million during the quarter, compared to the consensus estimate of $535.62 million. Copart had a return on equity of 31.33% and a net margin of 28.12%. Copart’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities research analysts forecast that Copart, Inc. will post 2.21 EPS for the current year.

In related news, insider William E. Franklin sold 8,993 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $75.01, for a total value of $674,564.93. Following the completion of the sale, the insider now directly owns 26,960 shares in the company, valued at $2,022,269.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO A Jayson Adair sold 179,461 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $74.54, for a total value of $13,377,022.94. The disclosure for this sale can be found here. Insiders sold 423,458 shares of company stock valued at $31,198,755 over the last 90 days. 15.99% of the stock is currently owned by company insiders.

A number of research analysts have recently commented on CPRT shares. BidaskClub cut Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, May 27th. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Friday, May 24th. SunTrust Banks increased their price target on Copart to $78.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Guggenheim cut Copart from a “buy” rating to a “neutral” rating and set a $67.07 price target for the company. in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Copart currently has a consensus rating of “Hold” and an average target price of $66.77.

Copart 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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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