Quantitative Investment Management LLC Purchases Shares of 39,832 Copart, Inc. $CPRT

Key Points

• Quantitative Investment Management initiated a Copart position by purchasing 39,832 shares worth approximately $1.12 million in the second quarter. Institutional investors and hedge funds collectively own 85.78% of the company.
• Copart CEO Jeffrey Liaw sold 27,745 shares for about $845,945, reducing his ownership by 21.78%; insiders now own 9.60% of the stock.
• Analyst sentiment is mixed, with ratings ranging from strong buy to sell. Copart has an average “Hold” rating and a consensus price target of $41.50, compared with a recent share price of $32.99.

Quantitative Investment Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 39,832 shares of the business services provider's stock, valued at approximately $1,122,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. C M Bidwell & Associates Ltd. acquired a new position in shares of Copart in the 2nd quarter valued at $25,000. Versant Capital Management Inc lifted its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after acquiring an additional 498 shares during the period. Cache Advisors LLC acquired a new stake in Copart during the 1st quarter worth about $31,000. Compass Financial Management LLC purchased a new stake in Copart during the 2nd quarter valued at about $33,000. Finally, Reflection Asset Management acquired a new position in shares of Copart in the fourth quarter valued at about $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company's stock.

Copart Price Performance

CPRT opened at $32.99 on Tuesday. The firm has a fifty day moving average price of $29.84 and a 200 day moving average price of $32.36. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The stock has a market cap of $30.54 billion, a P/E ratio of 20.49 and a beta of 1.01.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPRT. Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. Stephens reiterated an "equal weight" rating and issued a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Copart has an average rating of "Hold" and an average price target of $41.50.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source