Bancreek Capital Management LP Has $6.82 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Bancreek Capital Management LP cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 30.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,899 shares of the business services provider’s stock after selling 51,414 shares during the quarter. Copart accounts for about 6.7% of Bancreek Capital Management LP’s investment portfolio, making the stock its 5th largest holding. Bancreek Capital Management LP’s holdings in Copart were worth $6,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Madison Investment Advisors LLC bought a new position in Copart in the fourth quarter worth about $253,686,000. Bank of New York Mellon Corp raised its position in shares of Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Copart during the 4th quarter valued at approximately $69,162,000. Finally, Amundi increased its position in Copart by 18.2% in the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after buying an additional 1,090,841 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 0.4 %

Shares of NASDAQ:CPRT opened at $53.63 on Friday. The firm’s 50 day moving average is $56.43 and its two-hundred day moving average is $55.99. The firm has a market capitalization of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold 415,480 shares of company stock valued at $23,407,983 over the last 90 days. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

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.