IFC Advisors LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

by · The Cerbat Gem

IFC Advisors LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) during the 1st quarter, Holdings Channel.com reports. The firm bought 4,575 shares of the business services provider’s stock, valued at approximately $259,000.

Other hedge funds have also recently bought and sold shares of the company. Sandy Spring Bank increased its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Copart in the fourth quarter valued at about $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Copart in the fourth quarter valued at about $45,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Copart by 51.3% in the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 281 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Argus downgraded Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Stephens initiated coverage on Copart in a research report on Tuesday. They issued an “equal weight” rating and a $50.00 price target on the stock.

View Our Latest Stock Report on Copart

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.68% of the company’s stock.

Copart Stock Down 1.1%

CPRT stock opened at $47.46 on Friday. Copart, Inc. has a twelve month low of $47.33 and a twelve month high of $64.38. The company has a market cap of $45.89 billion, a PE ratio of 31.22 and a beta of 1.07. The business’s 50-day simple moving average is $53.03 and its 200 day simple moving average is $55.73.

Copart (NASDAQ:CPRT – Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Copart Profile

(Free Report)

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

See Also

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT – Free Report).