Copart, Inc. $CPRT Shares Sold by MGO One Seven LLC

Key Points

• MGO One Seven LLC reduced its Copart stake by 75.8% in the third quarter, selling 47,521 shares and retaining 15,188 shares worth about $414,000. Director Diane Morefield also sold 20,000 shares.
• Copart reported quarterly EPS of $0.35, below analysts’ $0.38 estimate, while revenue of $1.15 billion topped expectations and increased 2.4% year over year.
• Analyst views were mixed, but Copart’s consensus rating remained Moderate Buy, with a consensus price target of $37.90.

MGO One Seven LLC cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 75.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,188 shares of the business services provider's stock after selling 47,521 shares during the quarter. MGO One Seven LLC's holdings in Copart were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. C M Bidwell & Associates Ltd. purchased a new position in shares of Copart during the second quarter valued at approximately $25,000. Byrne Asset Management LLC purchased a new stake in Copart in the 3rd quarter valued at $25,000. Versant Capital Management Inc raised its position in Copart by 110.9% in the 2nd 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 last quarter. Cherry Tree Wealth Management LLC raised its position in Copart by 14,062.5% in 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 buying an additional 1,125 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in Copart during the 2nd quarter valued at $33,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Copart news, Director Diane Morefield sold 20,000 shares of the 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 completion of the transaction, the director directly owned 50,000 shares of the company's stock, valued at approximately $1,383,000. This represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company's stock.

Copart Stock Performance

Shares of CPRT stock opened at $31.95 on Monday. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.56 and a beta of 1.01. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $42.05. The firm's 50-day simple moving average is $29.45 and its two-hundred day simple moving average is $32.22.

Copart (NASDAQ:CPRT - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The firm's revenue was up 2.4% on a year-over-year basis. Analysts forecast that Copart, Inc. will post 1.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on CPRT. BNP Paribas Exane reaffirmed an "outperform" rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a report on Monday, September 28th. Freedom Broker reduced their target price on shares of Copart from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, September 14th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a report on Thursday, September 3rd. Barrington Research raised shares of Copart from a "market perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a research report on Friday, September 11th. Finally, HSBC cut shares of Copart from a "buy" rating to a "hold" rating and cut their price target for the stock from $46.00 to $36.00 in a report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Copart presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.90.

Copart Company Profile

Copart, Inc operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment.

The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation.

Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.

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