Jackson Hill Advisors LLC Increases Stake in Copart, Inc. $CPRT

Key Points

• Jackson Hill Advisors LLC increased its Copart stake by 41.8% in the fourth quarter, buying 100,000 additional shares and bringing its total to 339,000 shares worth about $13.27 million.
• Other institutions also added to CPRT, and institutional investors now hold 85.78% of the company’s stock, underscoring continued professional interest in the name.
• Copart reported quarterly results that beat analyst estimates, but Wall Street remains cautious overall: the stock has a consensus rating of “Hold” with an average price target of $44.50, while the shares recently traded around $30.35.

Jackson Hill Advisors LLC raised its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 41.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 339,000 shares of the business services provider's stock after buying an additional 100,000 shares during the quarter. Copart comprises approximately 6.2% of Jackson Hill Advisors LLC's investment portfolio, making the stock its 10th biggest holding. Jackson Hill Advisors LLC's holdings in Copart were worth $13,272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CPRT. Brighton Jones LLC lifted its stake in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after buying an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider's stock valued at $63,000 after buying an additional 878 shares in the last quarter. Jump Financial LLC bought a new position in Copart in the second quarter valued at approximately $2,677,000. Sei Investments Co. lifted its stake in Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider's stock valued at $44,179,000 after buying an additional 471,571 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Copart by 3.5% in the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider's stock valued at $20,270,000 after buying an additional 13,860 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. Barclays reiterated an "underweight" rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a 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 report on Friday, February 20th. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 1st. Two equities research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.50.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.60% of the company's stock.

Copart Stock Down 1.7%

NASDAQ CPRT opened at $30.35 on Thursday. Copart, Inc. has a 12-month low of $29.97 and a 12-month high of $51.01. The company has a market capitalization of $28.10 billion, a PE ratio of 18.85 and a beta of 1.00. The firm's 50 day moving average is $33.12 and its 200-day moving average is $36.67.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 33.48% and a return on equity of 16.63%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

About Copart

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.

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