OP Asset Management Ltd Takes Position in Copart, Inc. $CPRT

OP Asset Management Ltd bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, HoldingsChannel reports. The fund bought 91,805 shares of the business services provider’s stock, valued at approximately $3,048,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC lifted its position in Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the period. Sierra Legacy Group increased its holdings in Copart by 1.9% in the 4th 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 period. Geneos Wealth Management Inc. increased its holdings in Copart by 23.8% in the 2nd 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 period. Brown Miller Wealth Management LLC raised its position in shares of Copart by 3.8% in the 4th 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 in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CPRT. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.60% of the stock is currently owned by company insiders.

Copart Price Performance

CPRT stock opened at $30.55 on Friday. The stock has a market cap of $28.29 billion, a price-to-earnings ratio of 18.98 and a beta of 1.00. The company has a 50 day simple moving average of $32.24 and a 200 day simple moving average of $35.59. Copart, Inc. has a 1 year low of $29.41 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Copart Profile

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.