Bennicas Associates Lowers stake in Copart (CPRT)

Copart (CPRT) : Bennicas Associates reduced its stake in Copart by 0.4% during the most recent quarter end. The investment management company now holds a total of 25,175 shares of Copart which is valued at $1,252,708 after selling 100 shares in Copart , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Copart makes up approximately 1.10% of Bennicas Associates’s portfolio.

Other Hedge Funds, Including , Simplex Trading added CPRT to its portfolio by purchasing 359 company shares during the most recent quarter which is valued at $17,864.Cutler Group Lp boosted its stake in CPRT in the latest quarter, The investment management firm added 1,121 additional shares and now holds a total of 1,800 shares of Copart which is valued at $89,208. Copart makes up approx 0.01% of Cutler Group Lp’s portfolio.

Copart opened for trading at $49.52 and hit $50.125 on the upside on Wednesday, eventually ending the session at $49.76, with a gain of 0.61% or 0.3 points. The heightened volatility saw the trading volume jump to 3,40,481 shares. Company has a market cap of $5,443 M.

On the company’s financial health, Copart reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 25, 2016. Analyst had a consensus of $0.54. The company had revenue of $347.20 million for the quarter, compared to analysts expectations of $320.52 million. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

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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