Motorcar Parts of America, Inc. (NASDAQ:MPAA) Short Interest Up 21.0% in February

Motorcar Parts of America, Inc. (NASDAQ:MPAA) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 851,183 shares, a growth of 21.0% from the January 29th total of 703,345 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average daily volume of 222,442 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily volume of 222,442 shares, the days-to-cover ratio is currently 3.8 days. Approximately 4.8% of the company’s shares are short sold.

Institutional Trading of Motorcar Parts of America

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in Motorcar Parts of America by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,076,605 shares of the auto parts company’s stock worth $13,286,000 after purchasing an additional 25,826 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in Motorcar Parts of America by 21.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company’s stock worth $11,850,000 after buying an additional 169,979 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Motorcar Parts of America by 3.5% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 692,502 shares of the auto parts company’s stock worth $8,545,000 after buying an additional 23,221 shares during the last quarter. RBF Capital LLC boosted its stake in shares of Motorcar Parts of America by 4.2% during the 2nd quarter. RBF Capital LLC now owns 539,021 shares of the auto parts company’s stock worth $6,037,000 after buying an additional 21,644 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Motorcar Parts of America by 96.6% in the 2nd quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock valued at $5,667,000 after acquiring an additional 248,637 shares in the last quarter. Institutional investors own 83.48% of the company’s stock.

Motorcar Parts of America Stock Performance

Shares of Motorcar Parts of America stock opened at $10.41 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.43 and a quick ratio of 0.41. The firm has a market cap of $199.98 million, a price-to-earnings ratio of 115.67 and a beta of 1.36. The stock’s 50-day moving average is $12.00 and its 200-day moving average is $13.83. Motorcar Parts of America has a one year low of $8.17 and a one year high of $18.12.

Motorcar Parts of America declared that its Board of Directors has authorized a stock repurchase program on Monday, December 8th that allows the company to buyback $57.00 million in shares. This buyback authorization allows the auto parts company to purchase up to 22.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MPAA has been the subject of several analyst reports. Wall Street Zen lowered Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Loop Capital set a $20.00 price objective on shares of Motorcar Parts of America in a report on Friday, December 12th. Zacks Research upgraded shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings raised shares of Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

About Motorcar Parts of America

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.