Mount Lucas Management LP Has $1.56 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Mount Lucas Management LP reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 43.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,698 shares of the business services provider’s stock after selling 22,475 shares during the quarter. Mount Lucas Management LP’s holdings in Copart were worth $1,556,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Optimum Investment Advisors increased its stake in Copart by 141.5% in the third 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 last quarter. Eastern Bank bought a new stake in shares of Copart during the 3rd quarter valued at approximately $29,000. Crewe Advisors LLC increased its holdings in Copart by 98.6% in 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 in the last quarter. Meeder Asset Management Inc. increased its position 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 acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Copart by 477.7% in the second 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 during the period. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Price Performance

NASDAQ:CPRT opened at $56.67 on Friday. The firm has a 50-day moving average of $52.99 and a 200-day moving average of $53.10. Copart, Inc. has a one year low of $46.21 and a one year high of $58.58. The company has a market cap of $54.59 billion, a PE ratio of 40.77 and a beta of 1.27.

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

About Copart

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.