CarParts.com (NASDAQ:PRTS) CEO David Meniane Purchases 21,154 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 21,154 shares of the stock in a transaction on Friday, September 4th. The shares were acquired at an average cost of $9.11 per share, with a total value of $192,712.94. Following the acquisition, the chief executive officer directly owned 241,029 shares in the company, valued at approximately $2,195,774.19. This trade represents a 9.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, September 9th, David Meniane purchased 36,643 shares of CarParts.com stock. The stock was bought at an average cost of $9.64 per share, with a total value of $353,238.52.
• On Tuesday, September 8th, David Meniane bought 21,742 shares of CarParts.com stock. The stock was purchased at an average cost of $9.35 per share, with a total value of $203,287.70.
• On Friday, August 28th, David Meniane acquired 7,552 shares of CarParts.com stock. The stock was purchased at an average price of $7.16 per share, with a total value of $54,072.32.
• On Thursday, August 27th, David Meniane bought 4,612 shares of CarParts.com stock. The stock was acquired at an average cost of $6.88 per share, with a total value of $31,730.56.

CarParts.com Price Performance

NASDAQ PRTS opened at $10.00 on Thursday. CarParts.com, Inc. has a 52-week low of $3.72 and a 52-week high of $10.02. 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 business has a 50 day simple moving average of $6.32 and a 200 day simple moving average of $7.04. The stock has a market cap of $80.70 million, a price-to-earnings ratio of -2.31 and a beta of 0.71.

CarParts.com (NASDAQ:PRTS) last posted 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. The business had revenue of $135.64 million for the quarter, compared to analysts’ expectations 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

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of CarParts.com in the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in CarParts.com during the fourth quarter worth about $25,000. Marshall Wace LLP grew its holdings in 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 during the period. Bank of America Corp DE increased its position in CarParts.com by 249.6% during 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 last quarter. Finally, Private Management Group Inc. bought a new stake in CarParts.com in the third quarter valued at approximately $65,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Key Headlines Impacting CarParts.com

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

• Positive Sentiment: CEO David Meniane purchased a combined 79,539 shares between September 4 and September 9 for approximately $749,239. The purchases increased his holdings by roughly 36%, bringing his ownership to 299,414 shares. SEC Form 4 filing for CEO purchases
• Positive Sentiment: COO Michael Huffaker bought a combined 79,458 shares for approximately $748,462 over the same period. The purchases increased his holdings by more than 130%, to 139,560 shares. SEC Form 4 filing for COO purchases
• Neutral Sentiment: Combined insider purchases totaled approximately $1.5 million at prices ranging from $9.11 to $9.64 per share. Because the transactions were disclosed in SEC filings and represent direct stock purchases, they are generally viewed more favorably than awards or option exercises, although insider buying does not guarantee improved financial performance.

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.