Landscape Capital Management L.L.C. Purchases New Holdings in Copart, Inc. $CPRT

by · The Markets Daily

Landscape Capital Management L.L.C. acquired a new position in Copart, Inc. (NASDAQ:CPRT – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 71,782 shares of the business services provider’s stock, valued at approximately $2,024,000.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Copart during the second quarter worth approximately $2,677,000. Sei Investments Co. increased its position 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 worth $44,179,000 after purchasing an additional 471,571 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Copart by 3.5% in the 2nd 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 last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CPRT shares. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Copart in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $41.67.

Read Our Latest Research Report on CPRT

Copart Price Performance

Shares of NASDAQ CPRT opened at $33.80 on Friday. The company has a 50 day simple moving average of $29.49 and a 200-day simple moving average of $32.71. The company has a market capitalization of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, research analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by company insiders.

Copart Profile

(Free Report)

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.

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