Insider Buying: CarParts.com (NASDAQ:PRTS) COO Acquires $352,631.20 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) COO Michael Huffaker purchased 36,580 shares of the stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average price of $9.64 per share, with a total value of $352,631.20. Following the completion of the acquisition, the chief operating officer directly owned 139,560 shares in the company, valued at approximately $1,345,358.40. The trade was a 35.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, September 10th, Michael Huffaker acquired 13,250 shares of CarParts.com stock. The shares were purchased at an average price of $10.06 per share, for a total transaction of $133,295.00.
• On Tuesday, September 8th, Michael Huffaker acquired 21,718 shares of CarParts.com stock. The shares were purchased at an average price of $9.35 per share, for a total transaction of $203,063.30.
• On Friday, September 4th, Michael Huffaker acquired 21,160 shares of CarParts.com stock. The stock was acquired at an average cost of $9.11 per share, with a total value of $192,767.60.
• 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.
• On Thursday, August 27th, Michael Huffaker bought 4,614 shares of CarParts.com stock. The shares were acquired at an average cost of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Stock Up 7.1%

Shares of NASDAQ:PRTS opened at $9.31 on Friday. The company’s fifty day moving average is $6.43 and its two-hundred day moving average is $7.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $10.98. The stock has a market capitalization of $75.13 million, a price-to-earnings ratio of -2.15 and a beta of 0.71.

CarParts.com (NASDAQ:PRTS) last posted 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 during the quarter, compared to analyst estimates of $129.04 million.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CarParts.com has an average rating of “Reduce” and an average target price of $6.00.

Institutional Investors Weigh In On CarParts.com

A number of hedge funds have recently added to or reduced their stakes in PRTS. Cullen Frost Bankers Inc. acquired a new position in shares of CarParts.com during the fourth quarter valued at $25,000. Jane Street Group LLC bought a new position in shares of CarParts.com during the second quarter worth about $25,000. Marshall Wace LLP increased its holdings in shares of CarParts.com by 345.8% in the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 53,170 shares during the period. Bank of America Corp DE increased its holdings in shares of CarParts.com by 249.6% in the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 50,045 shares during the period. Finally, Private Management Group Inc. bought a new stake in CarParts.com in the 3rd quarter valued at about $65,000. 75.30% of the stock is currently owned by 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.