SG Americas Securities LLC Acquires 186,467 Shares of Copart, Inc. $CPRT

SG Americas Securities LLC increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 27.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 861,515 shares of the business services provider’s stock after buying an additional 186,467 shares during the period. SG Americas Securities LLC owned 0.09% of Copart worth $28,602,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lodestone Wealth Management LLC acquired a new position in shares of Copart during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new stake in shares of Copart during the third quarter valued at approximately $36,000. Aventura Private Wealth LLC acquired a new stake in shares of Copart in the fourth quarter valued at approximately $33,000. Reflection Asset Management acquired a new stake in shares of Copart in the fourth quarter valued at approximately $34,000. Finally, Board of the Pension Protection Fund bought a new position in Copart in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $29.60 on Wednesday. Copart, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $50.11. The firm has a market capitalization of $27.40 billion, a P/E ratio of 18.39 and a beta of 1.00. The company’s 50 day simple moving average is $32.42 and its 200 day simple moving average is $35.74.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CPRT. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Copart has a consensus rating of “Hold” and a consensus target price of $44.50.

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.