Broadcrest Asset Management LLC Sells 155,000 Shares of Copart, Inc. $CPRT

Broadcrest Asset Management LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 77.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the business services provider’s stock after selling 155,000 shares during the period. Copart comprises about 4.6% of Broadcrest Asset Management LLC’s holdings, making the stock its 6th largest holding. Broadcrest Asset Management LLC’s holdings in Copart were worth $2,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in shares of Copart in the third quarter worth approximately $25,000. Tripletail Wealth Management LLC acquired a new position in Copart in the 3rd quarter valued at approximately $27,000. LRI Investments LLC lifted its position in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Copart during the 2nd quarter valued at $31,000. Finally, Creekmur Asset Management LLC grew its holdings in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CPRT. Robert W. Baird cut their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Finally, Barclays reiterated an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a research note on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Stock Performance

Shares of CPRT stock opened at $40.28 on Friday. The stock’s 50 day simple moving average is $39.49 and its 200 day simple moving average is $43.40. Copart, Inc. has a twelve month low of $37.41 and a twelve month high of $63.85. The company has a market capitalization of $38.99 billion, a price-to-earnings ratio of 24.56 and a beta of 1.10.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

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.