54,526 Shares in Copart, Inc. $CPRT Bought by Delta Global Management LP

Delta Global Management LP purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 54,526 shares of the business services provider’s stock, valued at approximately $2,452,000.

Several other large investors have also made changes to their positions in CPRT. Cloud Capital Management LLC bought a new position in shares of Copart in the third quarter worth about $25,000. Tripletail Wealth Management LLC bought a new stake in Copart during the 3rd quarter valued at approximately $27,000. LRI Investments LLC lifted its holdings in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Copart by 173.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after purchasing an additional 548 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT opened at $33.88 on Tuesday. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 21.18 and a beta of 1.09. Copart, Inc. has a 1 year low of $33.53 and a 1 year high of $63.85. The business’s 50 day simple moving average is $38.62 and its 200-day simple moving average is $41.27.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CPRT. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. decreased their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Copart has a consensus rating of “Hold” and a consensus target price of $44.40.

Copart Profile

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.