Mill Capital Management LLC Takes Position in Copart, Inc. $CPRT

Mill Capital Management LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 450,898 shares of the business services provider’s stock, valued at approximately $12,711,000.

A number of other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Copart by 14.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after acquiring an additional 41,060 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Copart by 6.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock valued at $16,307,000 after purchasing an additional 34,855 shares during the last quarter. ABN Amro Investment Solutions grew its holdings in shares of Copart by 82.5% during the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after purchasing an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC raised its position in Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after purchasing an additional 36,091 shares during the period. Finally, Geode Capital Management LLC raised its position in Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after purchasing an additional 131,703 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction 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 represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

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

Copart Stock Up 7.6%

NASDAQ:CPRT opened at $31.61 on Friday. The firm has a market capitalization of $29.26 billion, a P/E ratio of 19.63 and a beta of 1.01. The company has a fifty day moving average of $29.30 and a 200 day moving average of $32.98. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11.

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, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, 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.