Maridea Wealth Management LLC Buys New Shares in Copart, Inc. $CPRT

Maridea Wealth Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,342 shares of the business services provider’s stock, valued at approximately $213,000.

A number of other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in shares of Copart in the first quarter worth about $26,000. Sunbelt Securities Inc. purchased a new stake in shares of Copart in the fourth quarter worth about $31,000. Atticus Wealth Management LLC purchased a new stake in shares of Copart in the second quarter worth about $31,000. Accent Capital Management LLC purchased a new stake in shares of Copart in the first quarter worth about $36,000. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock worth $44,000 after buying an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.1%

Shares of NASDAQ:CPRT opened at $44.89 on Friday. The company has a market capitalization of $43.41 billion, a price-to-earnings ratio of 28.06 and a beta of 1.03. Copart, Inc. has a 12 month low of $44.67 and a 12 month high of $64.38. The firm’s 50-day moving average is $47.15 and its 200 day moving average is $51.97.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business 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%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPRT. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens decreased their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Robert W. Baird decreased 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

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.