Kinsale Capital Group Inc. Increases Holdings in Copart, Inc. $CPRT

Kinsale Capital Group Inc. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,174 shares of the business services provider’s stock after acquiring an additional 13,095 shares during the period. Kinsale Capital Group Inc.’s holdings in Copart were worth $6,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR raised its stake in shares of Copart by 0.7% during the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after acquiring an additional 218 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Copart by 1.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 220 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Copart by 4.0% in the 1st quarter. Brooklyn Investment Group now owns 5,780 shares of the business services provider’s stock worth $327,000 after buying an additional 223 shares during the period. Blue Trust Inc. lifted its holdings in shares of Copart by 15.4% in the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after buying an additional 232 shares during the period. Finally, Legacy Capital Wealth Partners LLC grew its position in shares of Copart by 3.5% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 7,382 shares of the business services provider’s stock worth $418,000 after buying an additional 247 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT opened at $40.51 on Friday. The business’s 50-day moving average is $45.23 and its two-hundred day moving average is $49.33. Copart, Inc. has a 1 year low of $39.58 and a 1 year high of $64.38. The firm has a market capitalization of $39.21 billion, a PE ratio of 25.32 and a beta of 1.06.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several recent research reports. Stephens decreased their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Robert W. Baird cut their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

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.