Atwater Malick LLC Buys 7,380 Shares of Copart, Inc. (NASDAQ:CPRT)

by · The Markets Daily

Atwater Malick LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 18.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 48,046 shares of the business services provider’s stock after acquiring an additional 7,380 shares during the quarter. Copart comprises about 0.9% of Atwater Malick LLC’s portfolio, making the stock its 25th biggest holding. Atwater Malick LLC’s holdings in Copart were worth $2,719,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. HighPoint Advisor Group LLC lifted its position in shares of Copart by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after acquiring an additional 175 shares during the period. Sandy Spring Bank lifted its position in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the period. Lindbrook Capital LLC lifted its position in shares of Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 184 shares during the period. Nixon Peabody Trust Co. lifted its position in shares of Copart by 5.0% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 195 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock valued at $4,314,000 after acquiring an additional 200 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Argus downgraded Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd.

Read Our Latest Report on CPRT

Copart Stock Down 0.5%

Shares of CPRT stock opened at $50.14 on Friday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a market cap of $48.44 billion, a P/E ratio of 33.65 and a beta of 1.10. The business has a fifty day simple moving average of $58.28 and a 200 day simple moving average of $57.92.

Copart (NASDAQ:CPRT – Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Copart’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is currently owned by insiders.

About Copart

(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.

Further Reading

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