GAMMA Investing LLC Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

GAMMA Investing LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 6,774.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,151,720 shares of the business services provider's stock after acquiring an additional 1,134,966 shares during the quarter. GAMMA Investing LLC owned about 0.12% of Copart worth $65,176,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CPRT. Sandy Spring Bank raised its position in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Copart during the fourth quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Copart in the 4th quarter valued at $45,000. Versant Capital Management Inc raised its stake in Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after acquiring an additional 831 shares during the last quarter. Finally, Curio Wealth LLC acquired a new stake in Copart during the 4th quarter worth about $52,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

CPRT stock traded down $0.24 during trading on Thursday, hitting $50.14. 6,095,107 shares of the company traded hands, compared to its average volume of 4,665,398. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock's 50-day simple moving average is $58.41 and its 200 day simple moving average is $57.96. The company has a market cap of $48.44 billion, a PE ratio of 33.65 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the business posted $0.39 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

CPRT has been the topic of a number of research reports. Argus lowered Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,000 shares of company stock worth $11,401,000. Company insiders own 9.68% of the company's stock.

Copart Company 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.