MGO One Seven LLC Boosts Holdings in Copart, Inc. $CPRT

MGO One Seven LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 412.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,288 shares of the business services provider’s stock after buying an additional 57,372 shares during the quarter. MGO One Seven LLC’s holdings in Copart were worth $3,498,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new stake in Copart in the first quarter valued at $26,000. Atticus Wealth Management LLC purchased a new stake in Copart in the 2nd quarter valued at about $31,000. Ameritas Advisory Services LLC purchased a new position in Copart during the second quarter worth about $31,000. Accent Capital Management LLC purchased a new stake in shares of Copart in the 1st quarter valued at approximately $36,000. Finally, GFG Capital LLC purchased a new stake in shares of Copart in the 2nd quarter valued at approximately $37,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CPRT shares. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Robert W. Baird cut their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Stephens dropped their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Finally, Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Copart currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Copart Stock Up 0.4%

NASDAQ:CPRT opened at $44.07 on Tuesday. The company has a market capitalization of $42.65 billion, a PE ratio of 27.54 and a beta of 1.03. Copart, Inc. has a 52-week low of $43.71 and a 52-week high of $64.38. The stock’s 50 day moving average price is $46.77 and its 200 day moving average price is $51.15.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.33 earnings per share. Copart’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Profile

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.