Short Interest in Copart, Inc. (NASDAQ:CPRT) Expands By 6.1%

by · The Cerbat Gem

Copart, Inc. (NASDAQ:CPRT – Get Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 11,750,000 shares, a growth of 6.1% from the September 15th total of 11,070,000 shares. Based on an average daily volume of 4,540,000 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analyst Weigh In

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

Check Out Our Latest Report on CPRT

Hedge Funds Weigh In On Copart

A number of large investors have recently bought and sold shares of CPRT. Stonegate Investment Group LLC boosted its holdings in Copart by 4.9% in the third quarter. Stonegate Investment Group LLC now owns 5,673 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 264 shares during the last quarter. V Square Quantitative Management LLC increased its position in Copart by 72.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 13,880 shares of the business services provider’s stock worth $727,000 after purchasing an additional 5,837 shares in the last quarter. Addison Capital Co lifted its position in Copart by 1.4% during the third quarter. Addison Capital Co now owns 57,283 shares of the business services provider’s stock valued at $3,002,000 after buying an additional 798 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Copart by 2.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 90,061 shares of the business services provider’s stock worth $4,719,000 after buying an additional 1,728 shares during the period. Finally, Drake & Associates LLC lifted its holdings in shares of Copart by 32.4% during the 3rd quarter. Drake & Associates LLC now owns 5,512 shares of the business services provider’s stock valued at $289,000 after acquiring an additional 1,350 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Down 1.6 %

Shares of CPRT traded down $0.85 on Thursday, hitting $53.69. 3,800,573 shares of the stock traded hands, compared to its average volume of 4,484,372. The firm has a market capitalization of $51.67 billion, a P/E ratio of 37.81 and a beta of 1.27. The stock’s 50 day moving average is $52.16 and its two-hundred day moving average is $53.34. Copart has a 1 year low of $42.41 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. Research analysts forecast that Copart will post 1.54 EPS for the current year.

About Copart

(Get Free Report)

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.

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