500,000 Shares in Copart, Inc. $CPRT Acquired by Hiddenite Capital Partners LP

Hiddenite Capital Partners LP purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 500,000 shares of the business services provider’s stock, valued at approximately $13,640,000. Copart accounts for approximately 2.4% of Hiddenite Capital Partners LP’s portfolio, making the stock its 12th biggest holding.

Other hedge funds have also bought and sold shares of the company. Salomon & Ludwin LLC raised its stake in shares of Copart by 62.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,076 shares of the business services provider’s stock worth $29,000 after purchasing an additional 414 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Copart by 3,464.4% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 73,961 shares of the business services provider’s stock worth $2,017,000 after buying an additional 71,886 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Copart during the third quarter valued at about $17,303,000. ProShare Advisors LLC grew its position in Copart by 2.9% during the third quarter. ProShare Advisors LLC now owns 1,025,993 shares of the business services provider’s stock valued at $27,989,000 after buying an additional 29,212 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Copart during the third quarter valued at about $5,601,000. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Copart news, Director Diane Morefield sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total transaction of $553,200.00. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at $1,383,000. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.30% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $31.93 on Tuesday. Copart, Inc. has a one year low of $25.72 and a one year high of $43.38. The business’s fifty day moving average price is $29.53 and its 200-day moving average price is $32.40. The stock has a market capitalization of $29.58 billion, a PE ratio of 20.60, a P/E/G ratio of 1.42 and a beta of 1.06.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CPRT shares. Robert W. Baird lowered their price objective on shares of Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, September 11th. Freedom Broker dropped their target price on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. HSBC downgraded shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research report on Wednesday, September 16th. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Finally, Barclays set a $25.00 price target on shares of Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Copart Company Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.