Maren Capital LLC Buys 188,617 Shares of Copart, Inc. (NASDAQ:CPRT)

Maren Capital LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 23.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 999,001 shares of the business services provider’s stock after buying an additional 188,617 shares during the quarter. Copart comprises about 4.3% of Maren Capital LLC’s portfolio, making the stock its 12th biggest position. Maren Capital LLC owned approximately 0.10% of Copart worth $52,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jensen Investment Management Inc. increased its position in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Copart in the second quarter valued at approximately $109,382,000. Comgest Global Investors S.A.S. boosted its position in shares of Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Copart during the second quarter worth $70,307,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $62.24 on Wednesday. The firm has a fifty day moving average price of $55.26 and a two-hundred day moving average price of $53.54. The company has a market cap of $59.97 billion, a price-to-earnings ratio of 43.83 and a beta of 1.31. Copart, Inc. has a one year low of $46.21 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the business earned $0.34 earnings per share. Copart’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

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.