MBL Wealth LLC Sells 565 Shares of Copart, Inc. $CPRT

MBL Wealth LLC lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,638 shares of the business services provider’s stock after selling 565 shares during the quarter. MBL Wealth LLC’s holdings in Copart were worth $228,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in Copart by 16.5% during the second quarter. Checchi Capital Advisers LLC now owns 7,351 shares of the business services provider’s stock valued at $361,000 after purchasing an additional 1,039 shares in the last quarter. LGT Fund Management Co Ltd. boosted its holdings in shares of Copart by 49.3% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 57,604 shares of the business services provider’s stock valued at $2,827,000 after buying an additional 19,011 shares in the last quarter. 111 Capital bought a new stake in shares of Copart in the 2nd quarter valued at about $4,534,000. QRG Capital Management Inc. grew its position in shares of Copart by 1.5% in the 2nd quarter. QRG Capital Management Inc. now owns 121,791 shares of the business services provider’s stock worth $5,976,000 after buying an additional 1,763 shares during the last quarter. Finally, Segment Wealth Management LLC raised its stake in shares of Copart by 8.3% during the 2nd quarter. Segment Wealth Management LLC now owns 45,511 shares of the business services provider’s stock worth $2,233,000 after acquiring an additional 3,493 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Saturday, September 27th. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Stephens dropped their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $45.11 on Monday. The stock has a market capitalization of $43.65 billion, a price-to-earnings ratio of 28.19 and a beta of 1.03. The firm’s 50 day simple moving average is $46.97 and its 200-day simple moving average is $51.61. Copart, Inc. has a 12 month low of $44.23 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. Analysts anticipate 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.