Mackenzie Financial Corp Sells 340,775 Shares of Copart, Inc. $CPRT

Mackenzie Financial Corp decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 12.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,390,828 shares of the business services provider’s stock after selling 340,775 shares during the quarter. Mackenzie Financial Corp owned approximately 0.25% of Copart worth $117,318,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Atticus Wealth Management LLC bought a new stake in Copart during the second quarter valued at about $31,000. Ameritas Advisory Services LLC bought a new position in shares of Copart in the second quarter worth about $31,000. Creekmur Asset Management LLC grew its position in shares of Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after purchasing an additional 574 shares in the last quarter. Accent Capital Management LLC bought a new stake in Copart during the 1st quarter valued at approximately $36,000. Finally, Bank of Jackson Hole Trust raised its stake in Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPRT. JPMorgan Chase & Co. dropped their price target on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Barclays reissued an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Robert W. Baird dropped their target price on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Stephens decreased their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.60.

Insider Activity

In other news, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 353,123 shares of company stock worth $15,873,689 over the last 90 days. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Performance

NASDAQ CPRT opened at $38.97 on Friday. The stock has a 50 day moving average price of $42.99 and a 200-day moving average price of $47.07. Copart, Inc. has a one year low of $38.67 and a one year high of $64.06. The company has a market capitalization of $37.72 billion, a P/E ratio of 24.36 and a beta of 1.06.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Copart’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts predict 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.