Townsquare Capital LLC Has $9.75 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Townsquare Capital LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,125 shares of the business services provider’s stock after acquiring an additional 19,468 shares during the quarter. Townsquare Capital LLC’s holdings in Copart were worth $9,753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cadence Bank raised its position in shares of Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 178 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Copart by 58.3% during the third quarter. BNP Paribas Financial Markets now owns 2,292,500 shares of the business services provider’s stock worth $120,127,000 after acquiring an additional 844,014 shares during the last quarter. Avestar Capital LLC raised its position in shares of Copart by 1.1% during the third quarter. Avestar Capital LLC now owns 23,674 shares of the business services provider’s stock worth $1,241,000 after acquiring an additional 248 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Copart by 19.5% during the third quarter. Brooklyn Investment Group now owns 5,271 shares of the business services provider’s stock worth $276,000 after acquiring an additional 861 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Copart during the third quarter worth $4,067,000. Institutional investors own 85.78% of the company’s stock.

Copart Trading Down 0.5 %

NASDAQ CPRT opened at $63.51 on Thursday. The stock has a 50-day simple moving average of $54.33 and a 200 day simple moving average of $53.30. The company has a market capitalization of $61.18 billion, a PE ratio of 44.73 and a beta of 1.27. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent research reports. Robert W. Baird dropped their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.