Bryce Point Capital LLC Makes New $1.32 Million Investment in Copart, Inc. (NASDAQ:CPRT)

Bryce Point Capital LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel reports. The fund purchased 22,980 shares of the business services provider’s stock, valued at approximately $1,319,000.

A number of other hedge funds have also recently made changes to their positions in CPRT. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Quarry LP purchased a new stake in shares of Copart during the 3rd quarter valued at approximately $29,000. Curio Wealth LLC purchased a new position in Copart during the 4th quarter valued at about $52,000. Retirement Wealth Solutions LLC bought a new stake in Copart during the fourth quarter valued at $54,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after acquiring an additional 452 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 385,480 shares of company stock worth $21,667,683 over the last quarter. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

Shares of CPRT opened at $57.21 on Wednesday. The company has a 50 day simple moving average of $56.32 and a two-hundred day simple moving average of $56.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a market cap of $55.27 billion, a P/E ratio of 38.40 and a beta of 1.30.

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

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.