Insider Buying: CarParts.com (NASDAQ:PRTS) CEO Acquires 7,552 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 7,552 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $7.16 per share, for a total transaction of $54,072.32. Following the completion of the purchase, the chief executive officer owned 219,875 shares of the company’s stock, valued at approximately $1,574,305. The trade was a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

David Meniane also recently made the following trade(s):

• On Thursday, August 27th, David Meniane purchased 4,612 shares of CarParts.com stock. The shares were bought at an average price of $6.88 per share, with a total value of $31,730.56.

CarParts.com Stock Down 0.6%

Shares of PRTS traded down $0.04 during trading hours on Monday, hitting $7.23. The company had a trading volume of 6,004 shares, compared to its average volume of 57,594. The firm has a fifty day moving average price of $5.94 and a 200-day moving average price of $6.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67. The stock has a market capitalization of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 0.66. CarParts.com, Inc. has a 52-week low of $3.72 and a 52-week high of $13.60.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.42. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%. The company had revenue of $135.64 million for the quarter, compared to the consensus estimate of $129.04 million.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRTS shares. Royal Bank Of Canada upped their target price on shares of CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CarParts.com presently has an average rating of “Reduce” and a consensus price target of $6.00.

Institutional Investors Weigh In On CarParts.com

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in CarParts.com in the 2nd quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new position in CarParts.com in the 4th quarter worth about $25,000. Marshall Wace LLP lifted its stake in CarParts.com by 345.8% during the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 53,170 shares during the period. Bank of America Corp DE lifted its stake in CarParts.com by 249.6% during the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 50,045 shares during the period. Finally, Private Management Group Inc. purchased a new stake in shares of CarParts.com during the 3rd quarter valued at about $65,000. 75.30% of the stock is owned by hedge funds and other institutional investors.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.