Baskin Financial Services Inc. Has $39.90 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Baskin Financial Services Inc. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,388 shares of the business services provider’s stock after acquiring an additional 9,056 shares during the period. Copart comprises 3.3% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 16th biggest holding. Baskin Financial Services Inc. owned 0.08% of Copart worth $39,897,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Perpetual Ltd grew its stake in shares of Copart by 9.6% in the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock worth $9,344,000 after acquiring an additional 14,126 shares in the last quarter. Nordea Investment Management AB increased its stake in Copart by 44.1% in 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 buying an additional 636,438 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after buying an additional 10,959 shares in the last quarter. Motco boosted its stake in shares of Copart by 6,085.7% in the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after buying an additional 10,224 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Copart in the first quarter valued at approximately $3,877,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Stock Performance

CPRT traded down $0.57 during midday trading on Wednesday, reaching $54.28. The company had a trading volume of 1,440,896 shares, compared to its average volume of 4,475,671. The business has a 50-day moving average price of $51.98 and a two-hundred day moving average price of $53.33. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The stock has a market cap of $52.23 billion, a PE ratio of 38.63 and a beta of 1.27.

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