Kimelman & Baird LLC Purchases Shares of 1,233,106 Copart, Inc. $CPRT

Kimelman & Baird LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,233,106 shares of the business services provider’s stock, valued at approximately $34,761,000. Copart accounts for 1.9% of Kimelman & Baird LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds also recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its position in shares of Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after buying an additional 264 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after buying an additional 266 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Copart by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Copart by 11.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after buying an additional 288 shares during the last quarter. Finally, American Trust lifted its stake in shares of Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after buying an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.50.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Trading Up 0.7%

Shares of NASDAQ CPRT opened at $32.99 on Friday. The business’s fifty day simple moving average is $29.77 and its 200-day simple moving average is $32.47. The stock has a market cap of $30.54 billion, a P/E ratio of 20.49 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

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.