Park Place Capital Corp Buys 4,520 Shares of Copart, Inc. (NASDAQ:CPRT)

Park Place Capital Corp grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 27.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,068 shares of the business services provider’s stock after buying an additional 4,520 shares during the period. Park Place Capital Corp’s holdings in Copart were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CPRT. Rise Advisors LLC bought a new stake in shares of Copart in the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. lifted its holdings in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after acquiring an additional 234 shares in the last quarter. Crewe Advisors LLC lifted its holdings in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after acquiring an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after acquiring an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ CPRT traded up $0.75 during trading on Tuesday, reaching $53.51. 912,546 shares of the company’s stock were exchanged, compared to its average volume of 4,446,221. The business has a 50 day moving average price of $51.51 and a 200-day moving average price of $53.42. The stock has a market capitalization of $51.49 billion, a P/E ratio of 37.15 and a beta of 1.27. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58.

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

Analyst Ratings Changes

Separately, Robert W. Baird cut their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report 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.