Magnetar Financial LLC Increases Stock Position in Copart, Inc. $CPRT

Key Points

• Magnetar Financial LLC boosted its stake in Copart by 2,826.4%, buying an additional 120,009 shares to hold 124,255 shares valued at about $5.59 million per its latest SEC filing.
• Copart missed quarterly expectations (EPS $0.36 vs. $0.39; revenue $1.12B vs. $1.15B, down 3.6% YoY), the stock has weakened (opened $35.55; 52‑week range $33.81–$63.85), and analysts' reactions are mixed with an average "Hold" rating and lowered price targets.
• Insider activity: CEO Jeffrey Liaw sold 25,137 shares on Jan. 15, reducing his position by about 30.99%, while institutional ownership remains high at roughly 85.8%.

Magnetar Financial LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2,826.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,255 shares of the business services provider's stock after acquiring an additional 120,009 shares during the period. Magnetar Financial LLC's holdings in Copart were worth $5,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP lifted its holdings in shares of Copart by 0.8% in the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider's stock worth $1,422,000 after acquiring an additional 228 shares during the last quarter. PDS Planning Inc increased its holdings in Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider's stock valued at $234,000 after purchasing an additional 242 shares during the last quarter. Hollencrest Capital Management increased its holdings in Copart by 13.2% in the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider's stock valued at $94,000 after purchasing an additional 244 shares during the last quarter. Unique Wealth LLC raised its position in Copart by 2.3% in the third quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider's stock valued at $485,000 after purchasing an additional 245 shares during the period. Finally, Tobam lifted its stake in Copart by 22.9% during the second quarter. Tobam now owns 1,340 shares of the business services provider's stock worth $66,000 after purchasing an additional 250 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 2.1%

Shares of CPRT stock opened at $35.55 on Thursday. The firm has a 50 day moving average of $38.89 and a two-hundred day moving average of $41.63. The stock has a market capitalization of $34.25 billion, a PE ratio of 22.22 and a beta of 1.09. Copart, Inc. has a 52 week low of $33.81 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CPRT. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on Copart and gave the stock an "outperform" rating in a research note on Friday, February 20th. Barclays restated an "underweight" rating and set a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. CJS Securities raised Copart to a "strong-buy" rating in a research report on Thursday, December 11th. Finally, Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is owned by insiders.

Copart 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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