X Square Capital LLC Buys New Position in Copart, Inc. $CPRT

X Square Capital LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 90,655 shares of the business services provider’s stock, valued at approximately $2,556,000.

Several other hedge funds also recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart during the second quarter worth about $25,000. Versant Capital Management Inc lifted its stake in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after buying an additional 498 shares during the period. Cache Advisors LLC purchased a new position in shares of Copart during the first quarter valued at approximately $31,000. Reflection Asset Management acquired a new stake in Copart during the fourth quarter worth approximately $34,000. Finally, Elevation Wealth Partners LLC boosted its position in Copart by 882.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,094 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CPRT has been the subject of several recent analyst reports. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research report on Thursday. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.67.

Copart Stock Performance

Copart stock opened at $33.80 on Friday. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The firm has a 50 day moving average price of $29.49 and a 200 day moving average price of $32.71. The company has a market cap of $31.29 billion, a price-to-earnings ratio of 20.99 and a beta of 1.01.

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

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.