Mount Lucas Management LP Sells 1,488 Shares of Copart, Inc. (NASDAQ:CPRT)

Mount Lucas Management LP reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,210 shares of the business services provider’s stock after selling 1,488 shares during the quarter. Mount Lucas Management LP’s holdings in Copart were worth $1,619,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CPRT. Quarry LP acquired a new stake in shares of Copart in the third quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Copart during the 3rd quarter worth approximately $33,000. True Wealth Design LLC raised its stake in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the 4th quarter valued at approximately $54,000. Finally, Continuum Advisory LLC grew its stake in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after buying an additional 452 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $53.74 on Monday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market capitalization of $51.92 billion, a P/E ratio of 36.07 and a beta of 1.30. The company has a 50-day simple moving average of $57.16 and a 200 day simple moving average of $56.00.

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

Analyst Ratings Changes

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

About Copart

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.