Threadgill Financial LLC Makes New $4.64 Million Investment in Copart, Inc. (NASDAQ:CPRT)

Threadgill Financial LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the first quarter, according to its most recent filing with the SEC. The fund purchased 80,159 shares of the business services provider’s stock, valued at approximately $4,643,000. Copart comprises 2.1% of Threadgill Financial LLC’s portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baird Financial Group Inc. boosted its stake in Copart by 15.9% in the fourth quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock valued at $143,187,000 after acquiring an additional 400,940 shares during the period. Nordea Investment Management AB grew its stake in Copart by 64.1% during the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock worth $70,448,000 after buying an additional 563,233 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Copart by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after buying an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp lifted its stake in Copart by 57.9% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after buying an additional 23,304 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in shares of Copart by 29.0% during the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after acquiring an additional 262,499 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Up 0.4 %

NASDAQ:CPRT traded up $0.23 during trading hours on Friday, reaching $54.24. 5,559,554 shares of the company’s stock were exchanged, compared to its average volume of 4,383,832. The company has a market capitalization of $52.20 billion, a P/E ratio of 38.20 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 business’s 50-day simple moving average is $54.18 and its two-hundred day simple moving average is $52.36.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. Copart’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.00.

Insiders Place Their Bets

In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.23% of the company’s stock.

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.