Renaissance Group LLC Sells 65,373 Shares of Copart, Inc. $CPRT

Renaissance Group LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 490,396 shares of the business services provider’s stock after selling 65,373 shares during the quarter. Renaissance Group LLC owned 0.05% of Copart worth $19,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lodestone Wealth Management LLC purchased a new position in shares of Copart in the fourth quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new stake in Copart during the fourth quarter valued at approximately $33,000. Board of the Pension Protection Fund bought a new position in Copart in the fourth quarter worth approximately $35,000. FNY Investment Advisers LLC bought a new position in Copart in the third quarter worth approximately $36,000. Finally, Larson Financial Group LLC boosted its stake in shares of Copart by 36.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,363 shares of the business services provider’s stock worth $61,000 after acquiring an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays reissued an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.50.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT opened at $31.36 on Thursday. The firm has a market cap of $29.03 billion, a P/E ratio of 19.48 and a beta of 1.00. The company has a 50 day simple moving average of $32.94 and a two-hundred day simple moving average of $36.31. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.91.

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

Copart Company 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.