Maryland State Retirement & Pension System Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Maryland State Retirement & Pension System reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 46,577 shares of the business services provider’s stock after selling 3,261 shares during the period. Maryland State Retirement & Pension System’s holdings in Copart were worth $2,673,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP bought a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the last quarter. Curio Wealth LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $52,000. Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $54,000. Finally, Continuum Advisory LLC grew its position in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 0.1 %

NASDAQ CPRT opened at $53.85 on Friday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $52.02 billion, a PE ratio of 36.14 and a beta of 1.30. The stock’s 50 day moving average is $56.47 and its 200 day moving average is $55.99.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other Copart news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,480 shares of company stock worth $18,007,983 over the last ninety days. 9.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.