Clear Harbor Asset Management LLC Purchases New Stake in Copart, Inc. $CPRT

Clear Harbor Asset Management LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 130,867 shares of the business services provider’s stock, valued at approximately $3,689,000.

Several other institutional investors have also recently bought and sold shares of CPRT. C M Bidwell & Associates Ltd. bought a new position in shares of Copart in the second quarter valued at $25,000. Versant Capital Management Inc increased its position in shares of Copart by 110.9% during 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 in the last quarter. Cache Advisors LLC bought a new stake in shares of Copart during the first quarter worth about $31,000. Compass Financial Management LLC acquired a new stake in shares of Copart in the 2nd quarter worth about $33,000. Finally, Reflection Asset Management bought a new position in Copart in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $33.80 on Friday. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11. The stock has a market cap of $31.29 billion, a PE ratio of 20.99 and a beta of 1.01. The firm’s 50-day simple moving average is $29.49 and its 200 day simple moving average is $32.71.

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

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CPRT shares. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price on shares of Copart in a research report on Thursday. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $41.67.

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.