Western Wealth Management LLC Makes New Investment in Copart, Inc. $CPRT

Western Wealth Management LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,300 shares of the business services provider’s stock, valued at approximately $541,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Reflection Asset Management bought a new position in shares of Copart in the 4th quarter worth $34,000. Cache Advisors LLC acquired a new stake in Copart in the 1st quarter valued at $31,000. Triumph Capital Management increased its stake in Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of Copart in the fourth quarter valued at $48,000. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business’s 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 transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several analyst reports. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.50.

Copart Stock Up 7.6%

Copart stock opened at $31.61 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The company’s 50 day moving average price is $29.30 and its two-hundred day moving average price is $32.98. The stock has a market cap of $29.26 billion, a P/E ratio of 19.63 and a beta of 1.01.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. On average, equities 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.