Park Place Capital Corp Sells 1,525 Shares of Copart, Inc. $CPRT

Park Place Capital Corp lowered its position in Copart, Inc. (NASDAQ:CPRT) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,231 shares of the business services provider’s stock after selling 1,525 shares during the period. Park Place Capital Corp’s holdings in Copart were worth $1,848,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of Copart in the first quarter valued at approximately $26,000. Atticus Wealth Management LLC bought a new position in Copart in the 2nd quarter worth approximately $31,000. Accent Capital Management LLC bought a new position in Copart in the 1st quarter worth approximately $36,000. Financial Network Wealth Advisors LLC raised its position in Copart by 152.6% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock worth $44,000 after purchasing an additional 473 shares during the last quarter. Finally, SouthState Corp bought a new position in Copart in the 1st quarter worth approximately $45,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $44.60 on Tuesday. The firm has a fifty day moving average of $47.09 and a two-hundred day moving average of $51.85. The stock has a market capitalization of $43.13 billion, a price-to-earnings ratio of 27.88 and a beta of 1.03. Copart, Inc. has a 52 week low of $44.47 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Stephens dropped their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Robert W. Baird dropped their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Finally, Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.50.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.