Wolverine Asset Management LLC Purchases Shares of 15,000 Copart, Inc. (NASDAQ:CPRT)

Wolverine Asset Management LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,000 shares of the business services provider’s stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. OFI Invest Asset Management acquired a new stake in shares of Copart in the third quarter worth $25,000. Manchester Capital Management LLC grew its position in shares of Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares during the period. Bell Investment Advisors Inc boosted its position in Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares during the last quarter. Annapolis Financial Services LLC increased its holdings in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Copart by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 400 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares in the company, valued at $1,934,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock valued at $55,519,950 in the last quarter. 10.23% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $55.22 on Friday. The company has a 50 day simple moving average of $54.73 and a 200 day simple moving average of $50.34. The firm has a market cap of $53.09 billion, a PE ratio of 39.73 and a beta of 1.22. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CPRT shares. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.