GSA Capital Partners LLP bought a new stake in Copart, Inc. (NASDAQ:CPRT – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 43,295 shares of the business services provider’s stock, valued at approximately $1,695,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Copart in the 3rd quarter valued at about $25,000. Lodestone Wealth Management LLC bought a new stake in Copart in the 4th quarter valued at about $25,000. LRI Investments LLC increased 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 valued at $29,000 after buying an additional 363 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in Copart in the 4th quarter valued at about $33,000. 85.78% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company’s stock.
Copart Stock Down 1.0%
Copart (NASDAQ:CPRT – Get Free Report) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. Copart’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.
Analysts Set New Price Targets
CPRT has been the subject of a number of research analyst reports. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.40.
Check Out Our Latest Research Report on CPRT
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.
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