AlphaCentric Advisors LLC Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

AlphaCentric Advisors LLC cut its position in Copart, Inc. (NASDAQ:CPRT) by 6.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,702 shares of the business services provider’s stock after selling 264 shares during the period. AlphaCentric Advisors LLC’s holdings in Copart were worth $194,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Optimum Investment Advisors increased its holdings in shares of Copart by 141.5% in the third 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 period. Eastern Bank acquired a new position in shares of Copart in the third quarter valued at about $29,000. Crewe Advisors LLC increased its holdings in shares of Copart by 98.6% in the second 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 period. Meeder Asset Management Inc. increased its holdings in shares of Copart by 283.3% in the second 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 period. Finally, Versant Capital Management Inc increased its holdings in shares of Copart by 477.7% in the second 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 period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Up 1.9 %

Copart stock opened at $52.45 on Tuesday. The firm has a market cap of $50.52 billion, a price-to-earnings ratio of 37.73 and a beta of 1.27. Copart, Inc. has a 52 week low of $45.50 and a 52 week high of $58.58. The business’s 50-day moving average price is $52.26 and its 200 day moving average price is $52.99.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. Equities analysts expect that Copart, Inc. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a 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.