Maren Capital LLC Boosts Stock Position in Copart, Inc. $CPRT

Key Points

• Maren Capital LLC increased its stake in Copart, Inc. by 13.3% in the first quarter, owning approximately 1.2 million shares valued at around $68 million.
• CEO Jeffrey Liaw sold 24,088 shares of Copart stock, representing a 43.31% decrease in his ownership.
• Analysts have set a consensus price target of $53.33 for Copart, with ratings of "Hold" from most brokerages.

Maren Capital LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,204,317 shares of the business services provider's stock after purchasing an additional 141,403 shares during the period. Copart comprises 4.6% of Maren Capital LLC's holdings, making the stock its 11th largest position. Maren Capital LLC owned approximately 0.12% of Copart worth $68,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CPRT. Sowell Financial Services LLC bought a new stake in shares of Copart in the first quarter valued at $604,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock valued at $1,350,000 after buying an additional 8,181 shares during the period. Voleon Capital Management LP bought a new stake in shares of Copart in the fourth quarter valued at $1,314,000. Handelsbanken Fonder AB raised its stake in shares of Copart by 53.3% in the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock valued at $48,347,000 after buying an additional 297,210 shares during the period. Finally, 111 Capital bought a new stake in shares of Copart in the fourth quarter valued at $967,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $48.96 on Friday. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The firm has a market cap of $47.34 billion, a price-to-earnings ratio of 32.21 and a beta of 1.04. The business's fifty day moving average is $47.34 and its 200 day moving average is $53.53.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CPRT. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Finally, Stephens began coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective on the stock. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Copart currently has a consensus rating of "Hold" and a consensus price target of $53.33.

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.

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