Korea Investment CORP Purchases New Stake in Copart, Inc. $CPRT

Korea Investment CORP acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 896,942 shares of the business services provider’s stock, valued at approximately $25,285,000. Korea Investment CORP owned 0.10% of Copart as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPRT. C M Bidwell & Associates Ltd. acquired a new position in shares of Copart in the 2nd quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after acquiring an additional 498 shares in the last quarter. Cache Advisors LLC bought a new position in Copart in the first quarter valued at approximately $31,000. Reflection Asset Management bought a new position in Copart in the fourth quarter valued at approximately $34,000. Finally, Elevation Wealth Partners LLC raised its position in Copart by 882.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,094 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of Copart stock opened at $33.80 on Monday. The firm’s 50 day moving average is $29.49 and its 200 day moving average is $32.66. The firm has a market capitalization of $31.29 billion, a PE ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT) last issued 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. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Stephens reissued an “equal weight” rating and set a $35.00 price target on shares of Copart in a report on Thursday. Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.67.

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.