43,184 Shares in Copart, Inc. $CPRT Bought by Magnus Financial Group LLC

Key Points

• Magnus Financial Group acquired 43,184 Copart shares worth approximately $1.18 million in the third quarter. Institutional investors collectively own 85.78% of the company.
• Analysts maintain a generally positive outlook, with Copart holding a consensus “Moderate Buy” rating and an average price target of $37.80, despite mixed individual rating changes.
• Copart shares opened at $27.58, near their 12-month low of $25.72. The company recently reported quarterly revenue of $1.15 billion, up 2.4% year over year, but earnings per share of $0.35 fell short of expectations.

Magnus Financial Group LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 43,184 shares of the business services provider's stock, valued at approximately $1,178,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. acquired a new stake in shares of Copart in the 2nd quarter valued at $25,000. Byrne Asset Management LLC bought a new position in Copart in the 3rd quarter valued at approximately $25,000. Cache Advisors LLC acquired a new position in shares of Copart during the first quarter worth $31,000. Versant Capital Management Inc increased its stake in shares of Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after buying an additional 498 shares during the period. Finally, Cherry Tree Wealth Management LLC increased its position in Copart by 14,062.5% during the 2nd quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider's stock valued at $32,000 after purchasing an additional 1,125 shares during the period. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPRT. BNP Paribas Exane restated an "outperform" rating and set a $43.00 target price (up from $40.00) on shares of Copart in a research report on Monday, September 28th. HSBC lowered Copart from a "buy" rating to a "hold" rating and set a $36.00 target price on the stock. in a report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a report on Thursday, September 3rd. Robert W. Baird reduced their price objective on Copart from $42.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, September 11th. Finally, Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Copart currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

Copart Trading Down 0.9%

Shares of NASDAQ CPRT opened at $27.58 on Thursday. The business has a 50-day moving average of $29.99 and a 200-day moving average of $30.69. The firm has a market capitalization of $25.55 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.36 and a beta of 1.06. Copart, Inc. has a 12 month low of $25.72 and a 12 month high of $45.76.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Diane M. Morefield sold 20,000 shares of Copart stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $27.66, for a total transaction of $553,200.00. Following the sale, the director directly owned 50,000 shares of the company's stock, valued at $1,383,000. This represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by insiders.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.

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