David Meniane Buys 4,612 Shares of CarParts.com (NASDAQ:PRTS) Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane acquired 4,612 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $6.88 per share, with a total value of $31,730.56. Following the completion of the transaction, the chief executive officer owned 212,323 shares of the company’s stock, valued at $1,460,782.24. The trade was a 2.22% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, August 28th, David Meniane bought 7,552 shares of CarParts.com stock. The shares were purchased at an average cost of $7.16 per share, for a total transaction of $54,072.32.

CarParts.com Stock Performance

CarParts.com stock opened at $7.48 on Wednesday. The firm has a 50 day simple moving average of $5.99 and a 200-day simple moving average of $6.95. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $13.60. 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 stock has a market cap of $60.36 million, a price-to-earnings ratio of -1.73 and a beta of 0.71.

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

Hedge Funds Weigh In On CarParts.com

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in CarParts.com by 13.2% in the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after purchasing an additional 27,800 shares during the last quarter. Jane Street Group LLC acquired a new position in CarParts.com during the second quarter worth $25,000. Renaissance Technologies LLC boosted its position in shares of CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock worth $676,000 after buying an additional 35,900 shares during the period. Williams & Novak LLC boosted its position in shares of CarParts.com by 27.7% during the fourth quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock worth $94,000 after buying an additional 40,900 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of CarParts.com in the fourth quarter valued at $25,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.

Key CarParts.com News

Here are the key news stories impacting CarParts.com this week:

• Positive Sentiment: CEO David Meniane bought 4,612 shares at $6.88 on August 27 and another 7,552 shares at $7.16 on August 28, investing approximately $85,803 in total. His ownership increased by roughly 5.9%. CarParts.com CEO Acquires 4,612 Shares
• Positive Sentiment: COO Michael Huffaker also purchased 4,614 shares at $6.88 and 7,548 shares at $7.16, investing approximately $85,788 and increasing his position by more than 25% across the two transactions. The coordinated buying by the CEO and COO may reinforce investor confidence in management’s outlook. CarParts.com Insider Purchases
• Neutral Sentiment: CarParts.com’s latest quarterly results exceeded expectations: revenue was $135.64 million versus the $129.04 million consensus estimate, while its $0.43 adjusted loss per share was narrower than the expected $0.85 loss. The company nevertheless remains unprofitable, with a negative net margin and return on equity.
• Negative Sentiment: Analyst coverage remains unfavorable. CarParts.com has a consensus “Reduce” rating, an average price target of $6.00, and ratings of Hold and Sell from the two tracked analysts. Weiss Ratings also reaffirmed a Sell rating. CarParts.com Analysis

Analysts Set New Price Targets

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