Bull Harbor Capital LLC Invests $670,000 in Copart, Inc. $CPRT

Bull Harbor Capital LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,170 shares of the business services provider’s stock, valued at approximately $670,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new position in shares of Copart in the 4th quarter valued at about $25,000. Cache Advisors LLC purchased a new stake in shares of Copart during the first quarter worth approximately $31,000. Reflection Asset Management purchased a new stake in shares of Copart during the fourth quarter worth approximately $34,000. Triumph Capital Management raised its holdings in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 823 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in Copart by 129.2% in the first quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 761 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CPRT shares. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday. Barclays set a $26.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.50.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $29.57 on Friday. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The firm has a market capitalization of $27.38 billion, a P/E ratio of 18.37 and a beta of 1.02. The company’s fifty day moving average price is $29.91 and its 200 day moving average price is $33.79.

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

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.