Marathon Trading Investment Management LLC Acquires 23,390 Shares of Copart, Inc. $CPRT

Marathon Trading Investment Management LLC grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 187.1% in the 4th quarter, HoldingsChannel reports. The firm owned 35,890 shares of the business services provider’s stock after acquiring an additional 23,390 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Copart were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Copart during the fourth quarter valued at about $569,569,000. Capital World Investors boosted its stake in Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares during the last quarter. Capital International Investors purchased a new position in Copart in the fourth quarter valued at about $195,637,000. Deutsche Bank AG grew its position in shares of Copart by 94.0% during the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after acquiring an additional 4,823,111 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after acquiring an additional 3,918,610 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $30.75 on Monday. The firm’s 50 day moving average is $32.85 and its 200 day moving average is $36.18. The stock has a market capitalization of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.01. Copart, Inc. has a 12 month low of $29.97 and a 12 month high of $50.11.

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

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated 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 transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of research reports. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Barclays reissued an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.50.

Copart Company 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.