GABELLI & Co INVESTMENT ADVISERS INC. Acquires New Shares in Copart, Inc. (NASDAQ:CPRT)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,000 shares of the business services provider's stock, valued at approximately $803,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Sandy Spring Bank increased its holdings in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Curio Wealth LLC bought a new position in Copart in the 4th quarter worth $52,000. Retirement Wealth Solutions LLC purchased a new stake in Copart in the 4th quarter worth $54,000. Eastern Bank lifted its position in shares of Copart by 115.1% in the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after acquiring an additional 640 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Copart in the fourth quarter worth about $73,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In related news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock worth $11,401,000 in the last three months. Insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, Argus cut Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Price Performance

Shares of Copart stock traded up $0.24 during trading on Friday, reaching $59.68. 7,558,703 shares of the stock traded hands, compared to its average volume of 4,416,459. The company has a market capitalization of $57.66 billion, a price-to-earnings ratio of 40.05 and a beta of 1.22. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The business has a fifty day simple moving average of $56.22 and a two-hundred day simple moving average of $56.90.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.