CarParts.com (NASDAQ:PRTS) COO Acquires 4,614 Shares

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker acquired 4,614 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $6.88 per share, for a total transaction of $31,744.32. Following the completion of the purchase, the chief operating officer owned 52,554 shares in the company, valued at $361,571.52. The trade was a 9.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Michael Huffaker also recently made the following trade(s):

• On Friday, August 28th, Michael Huffaker bought 7,548 shares of CarParts.com stock. The shares were acquired at an average price of $7.16 per share, with a total value of $54,043.68.

CarParts.com Price Performance

PRTS traded down $0.04 during midday trading on Monday, reaching $7.23. 6,004 shares of the company’s stock were exchanged, compared to its average volume of 57,594. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $13.60. The stock has a market capitalization of $58.35 million, a PE ratio of -1.67 and a beta of 0.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. The business’s 50-day moving average price is $5.94 and its 200 day moving average price is $6.93.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results 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 business had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million.

Hedge Funds Weigh In On CarParts.com

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in CarParts.com during the 2nd quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of CarParts.com during the fourth quarter worth about $25,000. Marshall Wace LLP lifted its stake in shares of CarParts.com by 345.8% during the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 53,170 shares in the last quarter. Bank of America Corp DE boosted its position in shares of CarParts.com by 249.6% in the first quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after buying an additional 50,045 shares during the period. Finally, Private Management Group Inc. purchased a new stake in shares of CarParts.com in the third quarter worth about $65,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

Wall Street Analyst Weigh In

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

CarParts.com Company Profile

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.