Millburn Ridgefield Corp Invests $97,000 in Copart, Inc. (NASDAQ:CPRT)

Millburn Ridgefield Corp acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the third quarter, Holdings Channel.com reports. The fund acquired 1,842 shares of the business services provider’s stock, valued at approximately $97,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Cadence Bank raised its holdings 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 worth $1,653,000 after buying an additional 178 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Copart by 0.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after purchasing an additional 200 shares in the last quarter. Spinnaker Trust grew its holdings in shares of Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. increased its position in Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after purchasing an additional 201 shares in the last quarter. Finally, Duncan Williams Asset Management LLC lifted its stake in Copart by 1.3% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 203 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CPRT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of CPRT opened at $62.24 on Wednesday. The business has a 50-day moving average of $55.26 and a 200-day moving average of $53.54. The company has a market capitalization of $59.97 billion, a price-to-earnings ratio of 43.83 and a beta of 1.31. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.