Motorcar Parts of America (NASDAQ:MPAA) Raised to “Buy” at StockNews.com

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Motorcar Parts of America Stock Performance

Shares of MPAA stock traded up $0.07 during trading hours on Wednesday, reaching $6.85. 58,673 shares of the company traded hands, compared to its average volume of 80,408. The firm has a 50-day moving average price of $6.06 and a 200 day moving average price of $5.93. The company has a market cap of $135.29 million, a P/E ratio of -1.96 and a beta of 1.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.39 and a quick ratio of 0.35. Motorcar Parts of America has a 12-month low of $4.36 and a 12-month high of $10.40.

Insider Transactions at Motorcar Parts of America

In other news, major shareholder 325 Capital Llc purchased 16,608 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $6.73 per share, with a total value of $111,771.84. Following the completion of the purchase, the insider now owns 1,984,990 shares in the company, valued at approximately $13,358,982.70. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Motorcar Parts of America

Institutional investors and hedge funds have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Motorcar Parts of America by 31.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,110,484 shares of the auto parts company’s stock valued at $6,852,000 after acquiring an additional 267,927 shares during the last quarter. Private Capital Management LLC lifted its stake in shares of Motorcar Parts of America by 6.6% in the 1st quarter. Private Capital Management LLC now owns 2,842,726 shares of the auto parts company’s stock valued at $22,856,000 after purchasing an additional 176,971 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Motorcar Parts of America by 23.1% in the 2nd quarter. Donald Smith & CO. Inc. now owns 940,587 shares of the auto parts company’s stock worth $5,803,000 after purchasing an additional 176,725 shares during the period. Renaissance Technologies LLC increased its position in shares of Motorcar Parts of America by 829.4% during the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the auto parts company’s stock valued at $682,000 after purchasing an additional 98,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Motorcar Parts of America by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 954,683 shares of the auto parts company’s stock valued at $5,890,000 after purchasing an additional 64,408 shares during the last quarter. 83.48% of the stock is owned by hedge funds and other institutional investors.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.