Engineers Gate Manager LP Buys 56,237 Shares of Copart, Inc. $CPRT

Engineers Gate Manager LP increased its stake in Copart, Inc. (NASDAQ:CPRT) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 540,194 shares of the business services provider’s stock after buying an additional 56,237 shares during the period. Engineers Gate Manager LP’s holdings in Copart were worth $15,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after buying an additional 41,060 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock valued at $16,307,000 after buying an additional 34,855 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Copart during the second quarter valued at approximately $1,298,000. Mill Capital Management LLC bought a new stake in shares of Copart during the second quarter valued at approximately $12,711,000. Finally, Barbara Oil Co. bought a new stake in shares of Copart during the second quarter valued at approximately $1,585,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 1.7%

Shares of Copart stock opened at $32.03 on Thursday. The company has a market cap of $29.65 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.03. The company’s 50 day moving average is $30.34 and its 200 day moving average is $32.12. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $49.05.

Insiders Place Their Bets

In other Copart 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 in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of several analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday. Barclays set a $25.00 price objective on Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

About Copart

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.