Quantbot Technologies LP Invests $14.85 Million in Copart, Inc. $CPRT

Quantbot Technologies LP acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 526,794 shares of the business services provider’s stock, valued at approximately $14,850,000. Copart makes up 0.6% of Quantbot Technologies LP’s portfolio, making the stock its 9th biggest holding.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares in the last quarter. Jump Financial LLC bought a new stake in Copart in the second quarter valued at $2,677,000. Sei Investments Co. raised its holdings in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after purchasing an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after purchasing an additional 13,860 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 1.5%

Copart stock opened at $33.80 on Friday. The firm has a market capitalization of $31.29 billion, a price-to-earnings ratio of 20.99 and a beta of 1.01. The firm’s fifty day moving average price is $29.49 and its two-hundred day moving average price is $32.71. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11.

Copart (NASDAQ:CPRT) last posted 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 company 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, research analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CPRT shares. 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 price target on Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of Copart in a report on Thursday. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Three 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.67.

About Copart

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.