Brasada Capital Management LP Lowers Position in Copart, Inc. $CPRT

Brasada Capital Management LP trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 13.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 175,828 shares of the business services provider’s stock after selling 27,843 shares during the quarter. Copart comprises about 1.1% of Brasada Capital Management LP’s portfolio, making the stock its 26th largest position. Brasada Capital Management LP’s holdings in Copart were worth $6,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Aigen Investment Management LP acquired a new position in Copart during the fourth quarter valued at approximately $2,480,000. Akre Capital Management LLC lifted its position in Copart by 85.7% during the fourth quarter. Akre Capital Management LLC now owns 7,867,967 shares of the business services provider’s stock valued at $308,031,000 after buying an additional 3,631,207 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Copart during the fourth quarter valued at approximately $143,000. Aptus Capital Advisors LLC lifted its position in Copart by 3.7% during the fourth quarter. Aptus Capital Advisors LLC now owns 396,193 shares of the business services provider’s stock valued at $15,511,000 after buying an additional 14,157 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in Copart by 20.4% during the fourth quarter. Kestra Advisory Services LLC now owns 56,533 shares of the business services provider’s stock valued at $2,213,000 after buying an additional 9,574 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 1.0%

NASDAQ CPRT opened at $30.75 on Friday. The company’s fifty day simple moving average is $32.85 and its 200-day simple moving average is $36.20. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.11. The stock has a market cap of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.00.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, research analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CPRT. JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays reaffirmed an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.50.

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Copart Profile

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.