McBroom & Associates LLC Has $8.90 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

McBroom & Associates LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,045 shares of the business services provider’s stock after purchasing an additional 2,450 shares during the period. Copart makes up approximately 5.0% of McBroom & Associates LLC’s holdings, making the stock its 8th biggest position. McBroom & Associates LLC’s holdings in Copart were worth $8,898,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors raised its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank acquired a new position in shares of Copart in the 3rd quarter valued at $29,000. Quarry LP acquired a new position in shares of Copart in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Copart in the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC raised its stake in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 0.7 %

Shares of Copart stock opened at $58.63 on Tuesday. The stock has a market capitalization of $56.49 billion, a P/E ratio of 41.29 and a beta of 1.33. The company has a 50-day simple moving average of $58.52 and a 200 day simple moving average of $55.23. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Insider Buying and Selling

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock worth $39,199,813 in the last quarter. 9.68% of the stock is owned by corporate insiders.

About Copart

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.