Jackson Hill Advisors LLC Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Jackson Hill Advisors LLC cut its position in Copart, Inc. (NASDAQ:CPRT) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,000 shares of the business services provider’s stock after selling 5,000 shares during the quarter. Copart comprises 5.5% of Jackson Hill Advisors LLC’s holdings, making the stock its 10th biggest position. Jackson Hill Advisors LLC’s holdings in Copart were worth $10,794,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPRT. Optimum Investment Advisors lifted its position in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank bought a new stake in Copart in the 3rd quarter valued at about $29,000. Crewe Advisors LLC lifted its position in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 1.2 %

CPRT stock opened at $56.67 on Monday. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The company has a market capitalization of $54.59 billion, a price-to-earnings ratio of 40.77 and a beta of 1.27. The firm’s 50-day moving average is $52.99 and its two-hundred day moving average is $53.10.

Copart (NASDAQ:CPRT) last released its quarterly earnings results 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 return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

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.