MGO One Seven LLC Raises Stock Holdings in Copart, Inc. $CPRT

Key Points

• MGO One Seven LLC significantly increased its stake in Copart, Inc. by 412.3% during Q2, acquiring an additional 57,372 shares, bringing its total to 71,288 shares valued at approximately $3.5 million.
• Copart reported earnings of $0.41 per share for its latest quarter, exceeding analysts' expectations of $0.37, while its revenue was $1.13 billion, slightly below the forecast of $1.14 billion.
• Wall Street analysts have mixed views on Copart, with target prices ranging from $46.00 to $62.00, and an average rating of "Moderate Buy" as the market anticipates earnings of $1.57 per share for the current fiscal year.

MGO One Seven LLC lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 412.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,288 shares of the business services provider's stock after buying an additional 57,372 shares during the period. MGO One Seven LLC's holdings in Copart were worth $3,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPRT. Lawson Kroeker Investment Management Inc. NE grew its stake in Copart by 0.9% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 271,837 shares of the business services provider's stock worth $13,339,000 after buying an additional 2,422 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Copart by 7.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 119,525 shares of the business services provider's stock valued at $5,865,000 after purchasing an additional 8,002 shares during the last quarter. Aberdeen Group plc raised its stake in shares of Copart by 2.9% in the second quarter. Aberdeen Group plc now owns 511,873 shares of the business services provider's stock worth $25,118,000 after purchasing an additional 14,413 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its stake in shares of Copart by 4.5% in the second quarter. Blue Zone Wealth Advisors LLC now owns 123,154 shares of the business services provider's stock worth $6,043,000 after purchasing an additional 5,310 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Copart by 15.4% in the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider's stock valued at $85,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Price Performance

NASDAQ CPRT opened at $44.07 on Tuesday. Copart, Inc. has a 1-year low of $43.71 and a 1-year high of $64.38. The company has a market cap of $42.65 billion, a PE ratio of 27.54 and a beta of 1.03. The stock's 50 day simple moving average is $46.77 and its 200-day simple moving average is $51.15.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business's revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CPRT. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Stephens lowered their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Robert W. Baird lowered their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.50.

Copart Profile

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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