Signal Advisors Wealth LLC Takes $586,000 Position in Copart, Inc. (NASDAQ:CPRT)

Signal Advisors Wealth LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,115 shares of the business services provider’s stock, valued at approximately $586,000.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Copart in the first quarter valued at about $28,000. Fortitude Family Office LLC bought a new stake in shares of Copart in the fourth quarter valued at about $34,000. Trust Co. of Vermont bought a new position in Copart during the fourth quarter worth about $38,000. McGlone Suttner Wealth Management Inc. bought a new position in Copart during the fourth quarter worth about $40,000. Finally, C M Bidwell & Associates Ltd. lifted its stake in Copart by 100.0% during the third quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock worth $38,000 after purchasing an additional 436 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.23% of the stock is currently owned by corporate insiders.

Copart Stock Down 1.5 %

Shares of CPRT opened at $54.01 on Friday. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of 38.04 and a beta of 1.26. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The company has a 50-day moving average price of $54.20 and a two-hundred day moving average price of $52.32.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. Copart’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.