GSA Capital Partners LLP Invests $2.11 Million in Copart, Inc. $CPRT

GSA Capital Partners LLP purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 74,747 shares of the business services provider’s stock, valued at approximately $2,107,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Copart in the 4th quarter valued at $569,569,000. Capital World Investors lifted its stake in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Capital International Investors acquired a new stake in shares of Copart in the 4th quarter worth $195,637,000. Deutsche Bank AG lifted its stake in shares of Copart by 94.0% in the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock worth $389,764,000 after acquiring an additional 4,823,111 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after acquiring an additional 3,918,610 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Up 7.6%

NASDAQ:CPRT opened at $31.61 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 $29.26 billion, a PE ratio of 19.63 and a beta of 1.01. The firm’s fifty day simple moving average is $29.30 and its 200-day simple moving average is $32.98.

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