U S Global Investors Inc. Acquires Shares of 46,000 Copart, Inc. (CPRT)

U S Global Investors Inc. acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 46,000 shares of the business services provider’s stock, valued at approximately $1,581,000.

Several other large investors also recently modified their holdings of CPRT. Vanguard Group Inc. increased its position in shares of Copart by 103.5% during the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock worth $514,387,000 after acquiring an additional 8,230,677 shares during the period. BlackRock Inc. increased its position in shares of Copart by 103.6% during the second quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock worth $511,611,000 after acquiring an additional 8,189,852 shares during the period. William Blair Investment Management LLC increased its position in shares of Copart by 91.4% during the second quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock worth $334,636,000 after acquiring an additional 5,025,918 shares during the period. Principal Financial Group Inc. increased its position in shares of Copart by 106.5% during the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after acquiring an additional 3,826,242 shares during the period. Finally, Wasatch Advisors Inc. increased its position in shares of Copart by 109.9% during the second quarter. Wasatch Advisors Inc. now owns 7,061,828 shares of the business services provider’s stock worth $224,496,000 after acquiring an additional 3,697,382 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

CPRT has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, November 21st. Wolfe Research assumed coverage on shares of Copart in a report on Tuesday, November 7th. They set a “market perform” rating on the stock. Jefferies Group lifted their price objective on shares of Copart to $40.00 and gave the company a “hold” rating in a report on Thursday, November 23rd. Finally, CJS Securities reissued an “outperform” rating and set a $42.00 price objective on shares of Copart in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.40.

In other news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction on Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the sale, the director now directly owns 3,500 shares in the company, valued at $120,155. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Vincent W. Mitz sold 200,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the transaction, the president now owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. Insiders have sold 476,667 shares of company stock valued at $17,252,147 over the last quarter. Insiders own 16.40% of the company’s stock.

Copart, Inc. (NASDAQ CPRT) opened at $43.96 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. Copart, Inc. has a 1-year low of $27.46 and a 1-year high of $44.19. The stock has a market cap of $10,170.00, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Copart had a net margin of 20.01% and a return on equity of 29.96%. The business had revenue of $419.17 million for the quarter, compared to analyst estimates of $377.37 million. During the same period in the previous year, the company earned $0.29 earnings per share. sell-side analysts anticipate that Copart, Inc. will post 1.5 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States and international copyright and trademark law. The original version of this piece can be viewed at https://ledgergazette.com/2017/12/10/u-s-global-investors-inc-acquires-shares-of-46000-copart-inc-cprt.html.

Copart Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply