MQS Management LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

MQS Management LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the third quarter, Holdings Channel.com reports. The fund acquired 5,806 shares of the business services provider’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. Optimum Investment Advisors grew its position in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank acquired a new position in shares of Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC increased its stake in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the period. Meeder Asset Management Inc. lifted its holdings in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Down 1.0 %

NASDAQ CPRT opened at $57.34 on Friday. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The firm has a 50 day moving average of $52.84 and a two-hundred day moving average of $53.11. The stock has a market capitalization of $55.24 billion, a PE ratio of 41.25 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

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.