Los Angeles Capital Management LLC Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Los Angeles Capital Management LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 98.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,447 shares of the business services provider’s stock after selling 331,984 shares during the period. Los Angeles Capital Management LLC’s holdings in Copart were worth $241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Savant Capital LLC lifted its holdings in shares of Copart by 3.5% during the second quarter. Savant Capital LLC now owns 7,732 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 265 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its stake in Copart by 50.1% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 48,700 shares of the business services provider’s stock valued at $2,638,000 after acquiring an additional 16,252 shares during the period. Candriam S.C.A. boosted its holdings in shares of Copart by 7.1% during the 2nd quarter. Candriam S.C.A. now owns 51,104 shares of the business services provider’s stock valued at $2,768,000 after acquiring an additional 3,382 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Copart by 5.6% in the second quarter. Private Advisor Group LLC now owns 25,781 shares of the business services provider’s stock worth $1,396,000 after acquiring an additional 1,364 shares during the period. Finally, New York Life Investment Management LLC raised its holdings in shares of Copart by 0.7% during the second quarter. New York Life Investment Management LLC now owns 120,038 shares of the business services provider’s stock valued at $6,501,000 after purchasing an additional 781 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $50.23 on Monday. The stock’s 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $53.80. The stock has a market capitalization of $48.34 billion, a price-to-earnings ratio of 35.37 and a beta of 1.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

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.