Snyder Capital Management L P Lowers stake in Copart (CPRT)

Copart (CPRT) : Snyder Capital Management L P reduced its stake in Copart by 6.97% during the most recent quarter end. The investment management company now holds a total of 1,617,822 shares of Copart which is valued at $69.1 Million after selling 121,256 shares in Copart , the firm said in a disclosure report filed with the SEC on May 12, 2016.Copart makes up approximately 4.68% of Snyder Capital Management L P’s portfolio.

Other Hedge Funds, Including , Quantum Capital Management Nj reduced its stake in CPRT by selling 70,718 shares or 24.36% in the most recent quarter. The Hedge Fund company now holds 219,532 shares of CPRT which is valued at $9.4 Million. Copart makes up approx 2.76% of Quantum Capital Management Nj’s portfolio.Blackrock Advisors boosted its stake in CPRT in the latest quarter, The investment management firm added 816 additional shares and now holds a total of 57,899 shares of Copart which is valued at $2.5 Million.Morgan Dempsey Capital Management reduced its stake in CPRT by selling 150 shares or 3.71% in the most recent quarter. The Hedge Fund company now holds 3,895 shares of CPRT which is valued at $166,433. Copart makes up approx 0.06% of Morgan Dempsey Capital Management’s portfolio.Welch Forbes boosted its stake in CPRT in the latest quarter, The investment management firm added 3,630 additional shares and now holds a total of 11,430 shares of Copart which is valued at $489,890. Copart makes up approx 0.02% of Welch Forbes’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.

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