Mangrove Partners IM LLC Takes Position in Copart, Inc. $CPRT

Mangrove Partners IM LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 24,665 shares of the business services provider’s stock, valued at approximately $966,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new position in Copart during the 4th quarter worth $25,000. Aventura Private Wealth LLC purchased a new position in shares of Copart in the 4th quarter valued at $33,000. Board of the Pension Protection Fund purchased a new position in shares of Copart in the 4th quarter valued at $35,000. FNY Investment Advisers LLC acquired a new stake in shares of Copart in the 3rd quarter worth $36,000. Finally, Triumph Capital Management boosted its position in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after purchasing an additional 823 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $30.74 on Wednesday. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.11. The stock’s 50-day moving average is $32.74 and its two-hundred day moving average is $36.06. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 19.09 and a beta of 1.00.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of research 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. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.50.

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.