Townsquare Capital LLC Buys 17,823 Shares of Copart, Inc. (NASDAQ:CPRT)

Townsquare Capital LLC grew its position in Copart, Inc. (NASDAQ:CPRT) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,948 shares of the business services provider’s stock after purchasing an additional 17,823 shares during the quarter. Townsquare Capital LLC’s holdings in Copart were worth $11,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Copart in the 4th quarter worth $682,089,000. Madison Investment Advisors LLC acquired a new stake in shares of Copart in the fourth quarter valued at about $253,686,000. Bank of New York Mellon Corp increased its stake in shares of Copart by 23.3% in the fourth 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. Edgewood Management LLC lifted its position in shares of Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after purchasing an additional 2,084,626 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of Copart 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 filing with the SEC, which is accessible through this link. 9.68% of the stock is currently owned by company insiders.

Copart Price Performance

NASDAQ CPRT opened at $59.84 on Friday. The company’s fifty day moving average is $56.12 and its two-hundred day moving average is $56.64. The firm has a market capitalization of $57.81 billion, a price-to-earnings ratio of 40.16 and a beta of 1.22. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal 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.