Prana Capital Management LP Purchases Shares of 8,860 Copart, Inc. (NASDAQ:CPRT)

Prana Capital Management LP purchased a new stake in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,860 shares of the business services provider’s stock, valued at approximately $464,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new stake in shares of Copart during the 2nd quarter worth about $109,382,000. Kinsale Capital Group Inc. lifted its stake in Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after buying an additional 13,554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Copart in the 2nd quarter valued at about $5,418,000. Assenagon Asset Management S.A. lifted its stake in Copart by 263.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider’s stock valued at $35,307,000 after buying an additional 472,318 shares in the last quarter. Finally, Anthracite Investment Company Inc. purchased a new position in Copart in the 3rd quarter valued at about $2,358,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Up 0.4 %

CPRT stock opened at $62.24 on Wednesday. The company has a market cap of $59.97 billion, a price-to-earnings ratio of 43.83 and a beta of 1.31. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The firm has a 50-day moving average of $55.26 and a two-hundred day moving average of $53.54.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CPRT. Robert W. Baird decreased their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

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.