Jim Cramer Says Recession Is Not Coming and Recommends These 5 Stocks

4. Copart, Inc. (NASDAQ:CPRT)

Number of Hedge Fund Investors: 47

When asked about Copart, Inc. (NASDAQ:CPRT), which is involved in the resale and remarketing of salvage title vehicles, Jim Cramer said Copart, Inc. (NASDAQ:CPRT) was brought to his attention about 20 years ago by James Altucher. Cramer said he “could not believe” the “steady stream” of what Copart, Inc. (NASDAQ:CPRT) does.

“What a winner that is.” Cramer said about Copart, Inc. (NASDAQ:CPRT).

A total of 47 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Copart, Inc. (NASDAQ:CPRT). The most significant stakeholder of Copart, Inc. (NASDAQ:CPRT) during this period was Bo Shan’s Gobi Capital which has a $152 million stake in Copart, Inc. (NASDAQ:CPRT).

Polen U.S. SMID Company Growth Strategy made the following comment about Copart, Inc. (NASDAQ:CPRT) in its Q3 2023 investor letter:

“We exited three positions during the quarter, including Copart, Inc. (NASDAQ:CPRT), Farfetch, and Olo.

With Copart, we eliminated our position as the relative valuation has become less attractive on the back of strong YTD performance in 2023. With a decline in the expected IRR relative to our current opportunity set, we felt it prudent to move on in favor of superior alternatives.”