Scalar Gauge Management LLC Purchases Shares of 53,000 Motorcar Parts of America, Inc. $MPAA

Scalar Gauge Management LLC acquired a new position in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 53,000 shares of the auto parts company’s stock, valued at approximately $877,000. Motorcar Parts of America comprises 0.4% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 28th largest holding. Scalar Gauge Management LLC owned 0.27% of Motorcar Parts of America at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPAA. Osaic Holdings Inc. increased its position in Motorcar Parts of America by 4.1% during the second quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock worth $266,000 after buying an additional 933 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Motorcar Parts of America by 4.5% during the 2nd quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock worth $311,000 after acquiring an additional 1,191 shares during the last quarter. Invesco Ltd. raised its stake in Motorcar Parts of America by 5.4% in the 2nd quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company’s stock valued at $442,000 after acquiring an additional 2,009 shares during the period. BNP Paribas Financial Markets boosted its position in Motorcar Parts of America by 2,191.3% during the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 2,761 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Motorcar Parts of America during the second quarter worth $45,000. Institutional investors own 83.48% of the company’s stock.

Motorcar Parts of America Stock Down 1.4%

Shares of NASDAQ:MPAA opened at $12.81 on Tuesday. Motorcar Parts of America, Inc. has a 52-week low of $5.38 and a 52-week high of $18.12. The company has a fifty day moving average of $12.90 and a 200-day moving average of $13.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.46 and a current ratio of 1.46. The company has a market capitalization of $250.56 million, a PE ratio of 116.45 and a beta of 1.28.

Motorcar Parts of America announced that its board has approved a stock repurchase program on Monday, December 8th that allows the company to buyback $57.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 22.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MPAA. Weiss Ratings restated a “sell (d+)” rating on shares of Motorcar Parts of America in a research note on Monday, December 29th. Zacks Research upgraded shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Loop Capital set a $20.00 price objective on Motorcar Parts of America in a research note on Friday, December 12th. Finally, Wall Street Zen lowered shares of Motorcar Parts of America from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 14th. 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.com, Motorcar Parts of America presently has an average rating of “Reduce” and a consensus target price of $20.00.

Motorcar Parts of America Company Profile

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.