Lombard Odier Asset Management Europe Ltd Makes New Investment in Copart, Inc. $CPRT

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 104,309 shares of the business services provider’s stock, valued at approximately $2,940,000.

Several other hedge funds have also modified their holdings of CPRT. C M Bidwell & Associates Ltd. purchased a new stake in Copart during the second quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after buying an additional 498 shares during the period. Cache Advisors LLC acquired a new stake in Copart during the first quarter valued at $31,000. Compass Financial Management LLC acquired a new stake in shares of Copart during the 2nd quarter valued at about $33,000. Finally, Reflection Asset Management acquired a new position in Copart in the fourth quarter worth approximately $34,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by company insiders.

Copart Stock Performance

NASDAQ CPRT opened at $32.99 on Friday. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11. The stock has a market capitalization of $30.54 billion, a PE ratio of 20.49 and a beta of 1.01. The stock has a 50-day simple moving average of $29.77 and a 200 day simple moving average of $32.47.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CPRT. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.