Promus Capital LLC Acquires New Position in Copart, Inc. (NASDAQ:CPRT)

Promus Capital LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,013 shares of the business services provider’s stock, valued at approximately $919,000. Copart accounts for 0.9% of Promus Capital LLC’s investment portfolio, making the stock its 20th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cadence Bank raised its position in Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 178 shares during the last quarter. Everpar Advisors LLC raised its position in Copart by 4.3% during the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after acquiring an additional 200 shares during the last quarter. Simmons Bank raised its position in Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock worth $271,000 after acquiring an additional 200 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in Copart by 2.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In related news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock valued at $18,007,983 over the last 90 days. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Copart Price Performance

NASDAQ:CPRT opened at $54.41 on Thursday. The firm has a 50 day simple moving average of $57.45 and a 200-day simple moving average of $55.96. The firm has a market cap of $52.57 billion, a PE ratio of 36.52 and a beta of 1.30. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.