Quantbot Technologies LP Buys Shares of 526,794 Copart, Inc. $CPRT

Key Points

• Quantbot Technologies acquired 526,794 Copart shares worth approximately $14.85 million, making CPRT its ninth-largest portfolio holding and representing about 0.06% of Copart.
• Institutional ownership remains high at 85.78%, while analyst sentiment is mixed: MarketBeat reports an average “Hold” rating and a $41.67 target price, alongside recent sell and strong-buy calls.
• Copart’s latest quarterly results exceeded expectations, with EPS of $0.43 versus a $0.41 consensus and revenue of $1.24 billion, up 2.1% year over year; meanwhile, CEO Jeffrey Liaw sold shares valued at approximately $846,000.

Quantbot Technologies LP purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 526,794 shares of the business services provider's stock, valued at approximately $14,850,000. Copart makes up about 0.6% of Quantbot Technologies LP's investment portfolio, making the stock its 9th biggest position. Quantbot Technologies LP owned approximately 0.06% of Copart as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Janney Montgomery Scott LLC boosted its position in Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock worth $11,076,000 after buying an additional 41,060 shares during the period. Handelsbanken Fonder AB increased its position in Copart by 6.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider's stock valued at $16,307,000 after acquiring an additional 34,855 shares during the period. Mill Capital Management LLC bought a new position in shares of Copart during the second quarter valued at $12,711,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Copart during the second quarter valued at $1,298,000. Finally, ABN Amro Investment Solutions raised its stake in shares of 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 acquiring an additional 90,339 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CPRT. Barclays set a $26.00 price objective on shares of Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Stephens reaffirmed an "equal weight" rating and set a $35.00 target price on shares of Copart in a research report on Thursday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $41.67.

Copart Stock Down 1.5%

CPRT stock opened at $33.80 on Friday. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The company's fifty day simple moving average is $29.49 and its 200 day simple moving average is $32.71.

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

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares of the company's stock, valued at $3,038,054.09. The trade was a 21.78% 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 corporate 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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