Groupama Asset Managment Reduces Stock Position in Copart, Inc. $CPRT

Groupama Asset Managment lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 70.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,859 shares of the business services provider’s stock after selling 23,662 shares during the quarter. Groupama Asset Managment’s holdings in Copart were worth $443,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC increased its stake in shares of Copart by 1.0% in the 3rd quarter. Kimelman & Baird LLC now owns 1,233,862 shares of the business services provider’s stock worth $55,487,000 after acquiring an additional 11,697 shares during the last quarter. Prana Capital Management LP boosted its position in shares of Copart by 8.9% during the 3rd quarter. Prana Capital Management LP now owns 58,103 shares of the business services provider’s stock valued at $2,613,000 after acquiring an additional 4,755 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Copart during the 3rd quarter valued at about $7,158,000. Centaurus Financial Inc. grew its holdings in shares of Copart by 66.6% in the third quarter. Centaurus Financial Inc. now owns 71,276 shares of the business services provider’s stock valued at $3,205,000 after purchasing an additional 28,496 shares during the period. Finally, Caerus Investment Advisors LLC purchased a new stake in shares of Copart in the third quarter valued at about $452,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 1.0%

CPRT opened at $32.84 on Friday. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85. The business has a fifty day simple moving average of $38.15 and a 200-day simple moving average of $40.89. The firm has a market cap of $31.63 billion, a P/E ratio of 20.52 and a beta of 1.09.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus target price of $44.40.

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.