GABELLI & Co INVESTMENT ADVISERS INC. Invests $803,000 in Copart, Inc. (NASDAQ:CPRT)

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 14,000 shares of the business services provider’s stock, valued at approximately $803,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. lifted its holdings in Copart by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after acquiring an additional 8,300 shares in the last quarter. National Pension Service increased its position in Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after buying an additional 48,334 shares during the last quarter. Tsai Capital Corp lifted its stake in shares of Copart by 13.3% during the 4th quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock worth $3,540,000 after buying an additional 7,230 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of Copart during the fourth quarter worth approximately $3,962,000. Finally, Sanctuary Advisors LLC raised its position in shares of Copart by 21.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after buying an additional 9,222 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Stock Down 0.0 %

CPRT opened at $59.83 on Tuesday. The stock has a market cap of $57.80 billion, a price-to-earnings ratio of 40.15 and a beta of 1.22. The company’s 50-day moving average price is $56.14 and its two-hundred day moving average price is $56.72. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 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.