Promus Capital LLC Buys New Shares in Copart, Inc. (NASDAQ:CPRT)

Promus Capital LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,013 shares of the business services provider’s stock, valued at approximately $919,000. Copart accounts for about 0.9% of Promus Capital LLC’s holdings, making the stock its 20th biggest position.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in Copart during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the third quarter worth approximately $33,000. True Wealth Design LLC grew its stake in Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Copart during the fourth quarter worth approximately $54,000. Finally, Continuum Advisory LLC grew its stake in Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Trading Up 0.3 %

Shares of CPRT stock opened at $54.41 on Thursday. The company has a market capitalization of $52.57 billion, a PE ratio of 36.52 and a beta of 1.30. The firm has a fifty day simple moving average of $57.45 and a 200-day simple moving average of $55.96. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In related news, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 315,480 shares of company stock worth $18,007,983. 9.68% of the stock is currently owned by company insiders.

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.