Kinsale Capital Group Inc. Grows Stock Position in Copart, Inc. $CPRT

Kinsale Capital Group Inc. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,174 shares of the business services provider’s stock after buying an additional 13,095 shares during the quarter. Kinsale Capital Group Inc.’s holdings in Copart were worth $6,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Harvest Portfolios Group Inc. boosted its stake in shares of Copart by 30.0% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 41,177 shares of the business services provider’s stock worth $2,021,000 after acquiring an additional 9,503 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new position in Copart in the 2nd quarter worth $262,000. Sterling Capital Management LLC lifted its position in Copart by 429.0% during the second quarter. Sterling Capital Management LLC now owns 503,923 shares of the business services provider’s stock valued at $24,728,000 after purchasing an additional 408,669 shares in the last quarter. Nvwm LLC grew its holdings in Copart by 2.9% during the second quarter. Nvwm LLC now owns 28,675 shares of the business services provider’s stock valued at $1,407,000 after purchasing an additional 805 shares during the period. Finally, Smart Money Group LLC grew its holdings in Copart by 12.0% during the second quarter. Smart Money Group LLC now owns 17,473 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 1,870 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Stephens dropped their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.50.

Copart Stock Performance

CPRT stock opened at $40.51 on Friday. The company’s fifty day moving average price is $45.23 and its 200-day moving average price is $49.33. Copart, Inc. has a one year low of $39.58 and a one year high of $64.38. The company has a market capitalization of $39.21 billion, a PE ratio of 25.32 and a beta of 1.06.

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