Copart, Inc. (NASDAQ:CPRT) Stock Position Reduced by Anchor Investment Management LLC

Anchor Investment Management LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,772 shares of the business services provider’s stock after selling 679 shares during the period. Anchor Investment Management LLC’s holdings in Copart were worth $1,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Manning & Napier Advisors LLC purchased a new position in Copart during the second quarter valued at approximately $109,382,000. Price T Rowe Associates Inc. MD grew its position in Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after purchasing an additional 1,500,466 shares in the last quarter. TD Asset Management Inc grew its position in Copart by 43.3% during the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after purchasing an additional 1,469,292 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Copart during the second quarter valued at approximately $70,307,000. Finally, Bank of New York Mellon Corp grew its position in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 0.9 %

NASDAQ CPRT opened at $52.19 on Friday. The stock has a market capitalization of $50.22 billion, a PE ratio of 36.75 and a beta of 1.27. The company has a 50 day moving average price of $51.41 and a two-hundred day moving average price of $53.53. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58.

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

Analysts Set New Price Targets

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

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.