Gallacher Capital Management LLC Buys New Position in Copart, Inc. (NASDAQ:CPRT)

Gallacher Capital Management LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,795 shares of the business services provider’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cadence Bank boosted its holdings in Copart by 0.6% in the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 178 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock worth $345,000 after buying an additional 184 shares in the last quarter. Everpar Advisors LLC boosted its stake in shares of Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after buying an additional 199 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock valued at $4,314,000 after purchasing an additional 200 shares during the last quarter. Finally, Simmons Bank increased its holdings in Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock worth $271,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $52.65 on Monday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a 50-day simple moving average of $56.71 and a two-hundred day simple moving average of $56.01. The stock has a market capitalization of $50.86 billion, a PE ratio of 35.34 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was 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. Insiders have sold a total of 315,480 shares of company stock valued at $18,007,983 over the last 90 days. 9.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CPRT. Argus lowered Copart from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Copart 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.