OLD National Bancorp IN Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

OLD National Bancorp IN lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 16.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 491,009 shares of the business services provider’s stock after selling 96,233 shares during the period. Copart accounts for 0.6% of OLD National Bancorp IN’s portfolio, making the stock its 27th largest position. OLD National Bancorp IN’s holdings in Copart were worth $26,593,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CPRT. Perpetual Ltd grew its position in Copart by 9.6% during the first quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock valued at $9,344,000 after acquiring an additional 14,126 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Copart by 44.1% during the 1st quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock valued at $120,602,000 after purchasing an additional 636,438 shares during the last quarter. Baird Financial Group Inc. raised its position in Copart by 15.9% in the 4th quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock worth $143,187,000 after purchasing an additional 400,940 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Copart by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after purchasing an additional 44,248 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after purchasing an additional 10,959 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Up 1.8 %

Shares of CPRT traded up $0.90 during trading hours on Friday, hitting $50.99. The company had a trading volume of 2,904,246 shares, compared to its average volume of 4,488,823. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The stock’s 50 day moving average price is $53.12 and its 200 day moving average price is $53.47. The firm has a market cap of $49.07 billion, a P/E ratio of 35.91 and a beta of 1.28.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company earned $0.36 EPS. Copart’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts expect that Copart, Inc. will post 1.43 EPS 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.