PenderFund Capital Management Ltd. Purchases Shares of 43,900 Copart, Inc. $CPRT

PenderFund Capital Management Ltd. acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 43,900 shares of the business services provider’s stock, valued at approximately $1,238,000.

Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its position in Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after acquiring an additional 264 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 266 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 282 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Copart by 11.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 288 shares during the period. Finally, American Trust grew its holdings in shares of Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

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

Analysts Set New Price Targets

Several research analysts recently commented on CPRT shares. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Barclays set a $25.00 price objective on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.50.

Copart Trading Up 0.3%

CPRT stock opened at $32.76 on Friday. The stock has a market capitalization of $30.33 billion, a PE ratio of 20.35 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The stock’s 50 day simple moving average is $29.72 and its 200 day simple moving average is $32.47.

About Copart

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.