Signal Advisors Wealth LLC Acquires 53,099 Shares of Copart, Inc. $CPRT

Key Points

• Signal Advisors Wealth LLC increased its stake in Copart, Inc. by 71.8% during the second quarter, owning 127,035 shares valued at approximately $6.23 million.
• Insider transactions included CEO Jeffrey Liaw selling 24,088 shares for over $1.1 million, reducing his ownership by 43.31% to 31,527 shares.
• Copart reported $1.13 billion in revenue for the last quarter, slightly below analysts' estimates, with an earnings per share of $0.41, beating expectations by $0.04.

Signal Advisors Wealth LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 71.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 127,035 shares of the business services provider's stock after buying an additional 53,099 shares during the period. Signal Advisors Wealth LLC's holdings in Copart were worth $6,234,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CPRT. Nuveen LLC bought a new position in shares of Copart in the 1st quarter valued at about $267,723,000. Fiera Capital Corp lifted its holdings in shares of Copart by 195.6% in the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock valued at $225,942,000 after acquiring an additional 2,642,100 shares during the last quarter. Amundi lifted its holdings in shares of Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider's stock valued at $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after acquiring an additional 2,134,890 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after acquiring an additional 2,106,656 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Activity

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Company insiders own 9.68% of the company's stock.

Copart Price Performance

Shares of CPRT stock traded up $0.39 during trading hours on Friday, reaching $45.85. The stock had a trading volume of 20,163,202 shares, compared to its average volume of 7,097,659. The firm has a 50-day simple moving average of $47.22 and a 200-day simple moving average of $52.19. The firm has a market capitalization of $44.33 billion, a PE ratio of 28.66 and a beta of 1.03. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.33 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CPRT. JPMorgan Chase & Co. lowered their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Robert W. Baird cut their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a research note on Thursday, September 4th. Finally, Stephens decreased their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Copart currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

About Copart

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.