Knightsbridge Asset Management adds Copart (CPRT) to its portfolio

Copart (CPRT) : Knightsbridge Asset Management added new position in Copart during the most recent quarter end. The investment management firm now holds 148,650 shares of Copart which is valued at $7,524,663 , the company said in a statement filed on Aug 15, 2016 with the SEC.Copart makes up approximately 6.48% of Knightsbridge Asset Management’s portfolio.

Other Hedge Funds, Including , Delphi Private Advisors added CPRT to its portfolio by purchasing 27 company shares during the most recent quarter which is valued at $1,367.Proficio Capital Partners boosted its stake in CPRT in the latest quarter, The investment management firm added 36 additional shares and now holds a total of 113 shares of Copart which is valued at $5,700.

Copart opened for trading at $51.21 and hit $51.45 on the upside on Thursday, eventually ending the session at $51.23, with a gain of 0.41% or 0.21 points. The heightened volatility saw the trading volume jump to 6,59,204 shares. Company has a market cap of $5,604 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.

Many Wall Street Analysts have commented on Copart. Susquehanna Initiated Copart on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $53.Copart was Downgraded by Northcoast to ” Neutral” on Aug 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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