Second Line Capital LLC Has $3 Million Stock Holdings in Copart, Inc. $CPRT

Second Line Capital LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 46.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 106,235 shares of the business services provider’s stock after purchasing an additional 33,716 shares during the quarter. Second Line Capital LLC’s holdings in Copart were worth $2,995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. acquired a new stake in Copart in the 2nd quarter valued at about $25,000. Versant Capital Management Inc raised its stake in shares of Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after acquiring an additional 498 shares during the last quarter. Cache Advisors LLC acquired a new position in shares of Copart during the first quarter worth approximately $31,000. Compass Financial Management LLC acquired a new position in shares of Copart during the second quarter worth approximately $33,000. Finally, Reflection Asset Management bought a new stake in shares of Copart during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $33.72 on Tuesday. The company has a market cap of $31.22 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. The firm has a 50 day simple moving average of $30.18 and a 200 day simple moving average of $32.20. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $49.16.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Copart in a report on Thursday. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.83.

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.