Enhancing Capital LLC Buys New Position in Copart, Inc. (NASDAQ:CPRT)

Enhancing Capital LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 9,885 shares of the business services provider’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds have also made changes to their positions in CPRT. Quarry LP acquired a new stake in Copart in the third quarter worth approximately $29,000. 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 worth $34,000 after buying an additional 608 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of Copart in the fourth quarter valued at $52,000. Retirement Wealth Solutions LLC bought a new position in Copart during the fourth quarter valued at about $54,000. Finally, Continuum Advisory LLC grew its holdings in Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after acquiring an additional 452 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,480 shares of company stock valued at $18,007,983. Company insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPRT. JPMorgan Chase & Co. upped their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday.

Copart Stock Up 2.1 %

Shares of NASDAQ CPRT opened at $53.75 on Tuesday. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The company has a market cap of $51.93 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30. The business has a fifty day simple moving average of $56.65 and a 200-day simple moving average of $56.02.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart Profile

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.