Marks Group Wealth Management Inc Decreases Stock Holdings in Copart, Inc. $CPRT

Marks Group Wealth Management Inc reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,577 shares of the business services provider’s stock after selling 25,476 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Copart were worth $6,013,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its stake in shares of Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the last quarter. Sierra Legacy Group increased its position in Copart by 1.9% during the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after buying an additional 265 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares in the last quarter. Brown Miller Wealth Management LLC increased its position in Copart by 3.8% during the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock valued at $286,000 after buying an additional 268 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPRT. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and a consensus price target of $44.50.

Copart Stock Performance

Copart stock opened at $30.86 on Tuesday. The business’s 50-day simple moving average is $32.99 and its two-hundred day simple moving average is $36.45. The company has a market cap of $28.57 billion, a PE ratio of 19.17 and a beta of 1.01. Copart, Inc. has a fifty-two week low of $29.97 and a fifty-two week high of $50.91.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.60% of the stock is currently owned by company insiders.

Copart Company 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.