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Copart chairman buys 600,000+ shares

By: InvestorsObserver
Posted: 10/8/2013 1:24:00 PM
Referenced Stocks: CPRT

Copart chairman buys 600,000+ shares

Brent Archer 10/08/2013

Recent Copart ( CPRT ) filings indicate Chairman of the Board Willis J Johnson has purchased 633,000 shares of CPRT in the past month, valued at nearly $19.9M. This is the only CPRT insider action since July and more than six times the total amount of insider selling of CPRT from the past six months.

IK-> The technicals for CPRT ($32.28 down 0.24) are neutral with a sideways trend. The stock has had recent support near $30.35. Look at the November 25/30 bull-put spread for a 20-cent credit. That's a 4.2% return and the stock has to fall by 7.1% to cause a problem. [InvestorsKeyhole, Various news and data services]