MFA Wealth Advisors LLC Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

MFA Wealth Advisors LLC grew its position in Copart, Inc. (NASDAQ:CPRT) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,484 shares of the business services provider’s stock after buying an additional 8,273 shares during the period. MFA Wealth Advisors LLC’s holdings in Copart were worth $2,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors raised its holdings in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the period. Eastern Bank purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after acquiring an additional 234 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $51.36 on Thursday. The firm has a market capitalization of $49.42 billion, a PE ratio of 36.17 and a beta of 1.27. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58. The firm’s 50-day moving average is $52.28 and its two-hundred day moving average is $53.20.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. Analysts expect that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Copart Company 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.