Motorcar Parts of America, Inc. $MPAA Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its position in Motorcar Parts of America, Inc. (NASDAQ:MPAA) by 59.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,855 shares of the auto parts company’s stock after selling 69,651 shares during the quarter. Ritholtz Wealth Management’s holdings in Motorcar Parts of America were worth $518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Motorcar Parts of America in the 1st quarter worth approximately $234,000. Goldman Sachs Group Inc. raised its position in shares of Motorcar Parts of America by 294.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,432 shares of the auto parts company’s stock valued at $1,002,000 after acquiring an additional 78,695 shares in the last quarter. Jane Street Group LLC raised its position in shares of Motorcar Parts of America by 156.0% during the 1st quarter. Jane Street Group LLC now owns 89,733 shares of the auto parts company’s stock valued at $852,000 after acquiring an additional 54,681 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Motorcar Parts of America by 64.6% during the first quarter. Acadian Asset Management LLC now owns 36,326 shares of the auto parts company’s stock worth $343,000 after purchasing an additional 14,251 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Motorcar Parts of America by 100.6% during the second quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock worth $5,031,000 after purchasing an additional 225,225 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

Motorcar Parts of America Stock Up 0.9%

Shares of MPAA stock opened at $15.32 on Wednesday. Motorcar Parts of America, Inc. has a 1 year low of $9.29 and a 1 year high of $18.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.47 and a current ratio of 1.46. The business’s fifty day moving average is $12.40 and its 200-day moving average is $11.91. The stock has a market cap of $289.85 million, a PE ratio of 27.86 and a beta of 1.21.

Motorcar Parts of America (NASDAQ:MPAA) last announced its earnings results on Monday, June 8th. The auto parts company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.09. Motorcar Parts of America had a return on equity of 5.53% and a net margin of 1.57%.The business had revenue of $212.28 million during the quarter, compared to analysts’ expectations of $175.96 million. During the same quarter last year, the business posted ($0.04) earnings per share. Equities analysts expect that Motorcar Parts of America, Inc. will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MPAA. Cantor Fitzgerald restated an “overweight” rating on shares of Motorcar Parts of America in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Wall Street Zen raised Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 13th. Finally, Oppenheimer initiated coverage on Motorcar Parts of America in a research note on Friday, March 6th. They set an “outperform” rating and a $18.00 target price on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Motorcar Parts of America presently has an average rating of “Moderate Buy” and an average target price of $19.00.

About Motorcar Parts of America

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.