Madison Investment Holdings Inc buys $72.7 Million stake in Copart (CPRT)

Copart (CPRT) : Madison Investment Holdings Inc scooped up 61,845 additional shares in Copart during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,702,492 shares of Copart which is valued at $72.7 Million.Copart makes up approximately 1.55% of Madison Investment Holdings Inc’s portfolio.

Other Hedge Funds, Including , 1832 Asset Management sold out all of its stake in CPRT during the most recent quarter. The investment firm sold 18,100 shares of CPRT which is valued $773,413.Schroder Investment Management Group boosted its stake in CPRT in the latest quarter, The investment management firm added 85,600 additional shares and now holds a total of 117,450 shares of Copart which is valued at $5 Million. Copart makes up approx 0.01% of Schroder Investment Management Group’s portfolio.Connable Office Inc reduced its stake in CPRT by selling 1,490 shares or 23.23% in the most recent quarter. The Hedge Fund company now holds 4,925 shares of CPRT which is valued at $210,445. Copart makes up approx 0.06% of Connable Office Inc’s portfolio. Oxford Asset Management sold out all of its stake in CPRT during the most recent quarter. The investment firm sold 19,584 shares of CPRT which is valued $836,824.State Treasurer State Of Michigan boosted its stake in CPRT in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 40,652 shares of Copart which is valued at $1.7 Million. Copart makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio.

Copart opened for trading at $42.89 and hit $43.45 on the upside on Friday, eventually ending the session at $43.43, with a gain of 1.80% or 0.77 points. The heightened volatility saw the trading volume jump to 5,91,338 shares. Company has a market cap of $4,864,203 M.

On the company’s financial health, Copart reported $0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 23, 2015. Analyst had a consensus of $0.43. The company had revenue of $288.80 million for the quarter, compared to analysts expectations of $290.05 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Copart. Gabelli & Co Initiated Copart on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $46.Copart was Downgraded by BofA/Merrill to ” Neutral” on Mar 21, 2016. Copart was Upgraded by CL King to ” Neutral” on Feb 25, 2016.

Copart Inc. is a provider of online auctions and vehicle remarketing services in the United States Canada the United Kingdom the United Arab Emirates Oman Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3). It sells vehicles primarily to insurance companies and also to banks and financial institutions charities car dealerships fleet operators and vehicle rental companies. It sells the vehicles to licensed vehicle dismantlers rebuilders repair licensees used vehicle dealers and exporters and at certain locations to the general public. The Company that sells vehicles on behalf of insurance companies are either damaged vehicles deemed a total loss or not economically repairable by the insurance companies or are recovered stolen vehicles.

Leave a Reply

Copart - Is it time to Sell?

Top Brokerage Firms are advising their investors on Copart. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.