Mill Capital Management LLC Acquires New Shares in Copart, Inc. $CPRT

Key Points

• Mill Capital Management acquired 450,898 Copart shares during the second quarter, valued at approximately $12.7 million. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment remains mixed, with Copart carrying a consensus “Hold” rating and an average price target of $43.50; ratings range from “Strong Buy” to “Strong Sell.”
• Copart exceeded quarterly expectations, reporting $0.43 in earnings per share and $1.24 billion in revenue, while revenue rose 2.1% year over year. CEO Jeffrey Liaw separately sold 27,745 shares for about $846,000.

Mill Capital Management LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 450,898 shares of the business services provider's stock, valued at approximately $12,711,000.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock valued at $931,000 after buying an additional 264 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock worth $68,000 after buying an additional 266 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Copart by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock valued at $250,000 after acquiring an additional 282 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Copart by 11.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider's stock valued at $109,000 after acquiring an additional 288 shares during the period. Finally, American Trust grew its stake in Copart by 2.1% during the third quarter. American Trust now owns 14,230 shares of the business services provider's stock valued at $640,000 after acquiring an additional 295 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays set a $26.00 target price on shares of Copart and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Zacks Research cut shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Finally, Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Copart presently has an average rating of "Hold" and a consensus price target of $43.50.

Copart Trading Up 7.6%

Shares of NASDAQ CPRT opened at $31.61 on Friday. The business has a 50-day moving average of $29.30 and a 200-day moving average of $32.98. The firm has a market capitalization of $29.26 billion, a price-to-earnings ratio of 19.63 and a beta of 1.01. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $0.42 earnings per share. Copart's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by insiders.

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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