Townsquare Capital LLC Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Townsquare Capital LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 203,948 shares of the business services provider's stock after acquiring an additional 17,823 shares during the period. Townsquare Capital LLC's holdings in Copart were worth $11,705,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Sandy Spring Bank boosted 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 valued at $27,000 after purchasing an additional 176 shares during the last quarter. Curio Wealth LLC purchased a new position in Copart in the fourth quarter worth approximately $52,000. Retirement Wealth Solutions LLC acquired a new stake in Copart during the fourth quarter worth $54,000. Eastern Bank raised its position in 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 purchasing an additional 640 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Copart in the 4th quarter valued at $73,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Copart Trading Up 0.4 %

NASDAQ:CPRT traded up $0.24 during midday trading on Friday, reaching $59.68. The company had a trading volume of 7,558,703 shares, compared to its average volume of 4,418,214. The firm has a market capitalization of $57.66 billion, a price-to-earnings ratio of 40.05 and a beta of 1.22. The stock's fifty day simple moving average is $56.21 and its 200-day simple moving average is $56.82. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In related news, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. 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 over the last ninety days. Corporate insiders own 9.68% of the company's stock.

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.