Maren Capital LLC Purchases 21,095 Shares of Copart, Inc. $CPRT

Maren Capital LLC increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,496,614 shares of the business services provider’s stock after purchasing an additional 21,095 shares during the quarter. Copart makes up approximately 3.3% of Maren Capital LLC’s holdings, making the stock its 13th largest holding. Maren Capital LLC’s holdings in Copart were worth $70,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. C M Bidwell & Associates Ltd. purchased a new position in shares of Copart during the second quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in 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 period. Cache Advisors LLC purchased a new stake in Copart in the first quarter worth $31,000. Compass Financial Management LLC bought a new stake in Copart in the second quarter valued at $33,000. Finally, Reflection Asset Management bought a new stake in Copart in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.4%

Shares of CPRT opened at $33.72 on Friday. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $49.16. The company has a market capitalization of $31.22 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03. The firm has a 50 day moving average of $30.07 and a 200 day moving average of $32.26.

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 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 owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CPRT. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $40.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Finally, Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.