Lombard Odier Asset Management Europe Ltd Sells 62,747 Shares of Copart, Inc. $CPRT

Key Points

• Lombard Odier Asset Management Europe reduced its Copart stake by 41.6%, selling 62,747 shares and retaining 88,085 shares valued at approximately $2.9 million. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment is mixed, with Copart carrying an average rating of “Hold” and an average price target of $43.50; recent ratings ranged from “Strong Buy” to “Strong Sell.”
• Copart recently exceeded quarterly expectations, reporting $0.43 in EPS versus $0.41 expected and $1.24 billion in revenue. However, CEO Jeffrey Liaw sold 27,745 shares at an average price of $30.49.

Lombard Odier Asset Management Europe Ltd lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,085 shares of the business services provider's stock after selling 62,747 shares during the quarter. Lombard Odier Asset Management Europe Ltd's holdings in Copart were worth $2,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its stake in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock valued at $11,076,000 after purchasing an additional 41,060 shares in the last quarter. ABN Amro Investment Solutions raised its position in Copart by 82.5% during the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider's stock valued at $7,822,000 after purchasing an additional 90,339 shares in the last quarter. Davidson Kahn Capital Management LLC lifted its stake in Copart by 56.3% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider's stock worth $3,921,000 after purchasing an additional 36,091 shares during the last quarter. Inlet Private Wealth LLC bought a new stake in Copart during the fourth quarter worth about $2,637,000. Finally, Assetmark Inc. boosted its holdings in shares of Copart by 7.3% in the 4th quarter. Assetmark Inc. now owns 507,255 shares of the business services provider's stock worth $19,859,000 after purchasing an additional 34,410 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CPRT has been the subject of a number of recent research reports. Zacks Research downgraded Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Copart in a research report on Wednesday. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Freedom Capital raised shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Barclays set a $26.00 target price on shares of Copart and gave the company an "underweight" rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Copart presently has an average rating of "Hold" and an average target price of $43.50.

Copart Stock Performance

NASDAQ:CPRT opened at $29.12 on Monday. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11. The firm has a market cap of $26.96 billion, a PE ratio of 18.09 and a beta of 1.02. The business has a 50 day moving average price of $29.82 and a 200-day moving average price of $33.72.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The company 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 firm earned $0.42 earnings per share. Research analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company's stock.

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.

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