Copart, Inc. (CPRT) Stake Held by Bright Rock Capital Management LLC
Bright Rock Capital Management LLC maintained its position in Copart, Inc. (NASDAQ:CPRT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the business services provider’s stock at the end of the first quarter. Bright Rock Capital Management LLC’s holdings in Copart were worth $2,477,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC raised its position in shares of Copart by 91.8% in the fourth quarter. William Blair Investment Management LLC now owns 4,175,975 shares of the business services provider’s stock valued at $231,391,000 after buying an additional 1,998,355 shares during the period. Foundation Asset Management LP acquired a new position in shares of Copart during the fourth quarter valued at about $47,222,000. MIG Capital LLC acquired a new position in shares of Copart during the fourth quarter valued at about $44,041,000. Lazard Asset Management LLC raised its position in shares of Copart by 10.7% in the third quarter. Lazard Asset Management LLC now owns 7,676,299 shares of the business services provider’s stock valued at $411,142,000 after buying an additional 740,773 shares during the period. Finally, Norges Bank acquired a new position in shares of Copart during the fourth quarter valued at about $37,267,000. Institutional investors own 79.68% of the company’s stock.
Copart, Inc. (NASDAQ:CPRT) traded up 0.83% during mid-day trading on Thursday, hitting $30.23. 698,944 shares of the stock traded hands. The stock has a 50-day moving average price of $55.58 and a 200-day moving average price of $55.56. Copart, Inc. has a 12 month low of $20.93 and a 12 month high of $31.57. The stock has a market cap of $6.94 billion, a P/E ratio of 18.30 and a beta of 1.00.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, February 21st. The business services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Copart had a net margin of 29.00% and a return on equity of 35.43%. The business had revenue of $349.50 million for the quarter, compared to analyst estimates of $339.23 million. During the same period last year, the business earned $0.45 EPS. On average, equities analysts forecast that Copart, Inc. will post $1.25 earnings per share for the current year.
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Several research analysts have issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $30.00 target price on shares of Copart in a research report on Tuesday. Zacks Investment Research downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.67.
In other news, Director James E. Meeks sold 16,500 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $60.52, for a total value of $998,580.00. Following the sale, the director now directly owns 16,500 shares in the company, valued at approximately $998,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO A Jayson Adair sold 200,000 shares of the firm’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $62.06, for a total transaction of $12,412,000.00. The disclosure for this sale can be found here. Insiders sold a total of 269,703 shares of company stock worth $16,631,490 over the last 90 days. Company insiders own 17.00% of the company’s stock.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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