Stock Traders Purchase Large Volume of Call Options on Copart (CPRT)
Copart, Inc. (NASDAQ:CPRT) saw unusually large options trading on Wednesday. Traders acquired 923 call options on the company. This represents an increase of approximately 999% compared to the average daily volume of 84 call options.
In other news, Director James E. Meeks sold 160,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the sale, the director now owns 3,500 shares in the company, valued at approximately $120,155. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total value of $6,864,000.00. Following the sale, the president now owns 47,660 shares of the company’s stock, valued at approximately $1,635,691.20. The disclosure for this sale can be found here. 16.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Burgundy Asset Management Ltd. raised its stake in Copart by 10.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 438,406 shares of the business services provider’s stock worth $15,068,000 after acquiring an additional 41,017 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Copart in the 3rd quarter worth $816,000. Wolverine Trading LLC raised its stake in Copart by 44.9% in the 3rd quarter. Wolverine Trading LLC now owns 11,595 shares of the business services provider’s stock worth $399,000 after acquiring an additional 3,595 shares during the last quarter. California Public Employees Retirement System raised its stake in Copart by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 604,962 shares of the business services provider’s stock worth $20,793,000 after acquiring an additional 33,262 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Copart in the 3rd quarter worth $563,000. Institutional investors own 81.03% of the company’s stock.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The firm had revenue of $419.17 million during the quarter, compared to analyst estimates of $377.37 million. During the same quarter in the prior year, the business posted $0.29 EPS. sell-side analysts expect that Copart will post 1.41 earnings per share for the current year.
Several brokerages have recently commented on CPRT. Robert W. Baird reiterated a “buy” rating and set a $44.00 price objective on shares of Copart in a report on Friday. Jefferies Group LLC increased their price objective on Copart to $40.00 and gave the company a “hold” rating in a report on Thursday. Wolfe Research began coverage on Copart in a report on Tuesday, November 7th. They set a “market perform” rating for the company. Gabelli reiterated a “hold” rating on shares of Copart in a report on Friday. Finally, Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Copart currently has an average rating of “Hold” and a consensus price target of $41.40.
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Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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