Anthracite Investment Company Inc. Invests $2.36 Million in Copart, Inc. (NASDAQ:CPRT)

Anthracite Investment Company Inc. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the business services provider’s stock, valued at approximately $2,358,000.

A number of other hedge funds also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors increased its holdings in shares of 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 acquiring an additional 300 shares during the period. Eastern Bank purchased a new position in Copart in the third quarter valued at about $29,000. Crewe Advisors LLC raised its holdings in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 0.2 %

Shares of Copart stock opened at $56.52 on Wednesday. The company has a 50 day moving average price of $53.27 and a 200 day moving average price of $53.12. The firm has a market capitalization of $54.45 billion, a P/E ratio of 40.66 and a beta of 1.27. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday.

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.