Havemeyer Place LP Makes New Investment in Copart, Inc. $CPRT

Havemeyer Place LP bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 52,205 shares of the business services provider’s stock, valued at approximately $2,044,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Quadrant Capital Group LLC lifted its position in shares of Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after buying an additional 264 shares during the last quarter. Sierra Legacy Group lifted its position in shares of Copart by 1.9% during the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after buying an additional 265 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares during the last quarter. Brown Miller Wealth Management LLC lifted its position in shares of Copart by 3.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock valued at $286,000 after buying an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on CPRT shares. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Barclays reissued an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.50.

Copart Stock Up 0.6%

Shares of Copart stock opened at $30.96 on Friday. The firm has a market capitalization of $28.66 billion, a P/E ratio of 19.23 and a beta of 1.00. The company has a 50 day moving average price of $33.03 and a 200 day moving average price of $36.55. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.92.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. As a group, research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by insiders.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.