CarParts.com (NASDAQ:PRTS) CEO David Meniane Purchases 7,552 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane acquired 7,552 shares of the company’s stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of $7.16 per share, for a total transaction of $54,072.32. Following the completion of the acquisition, the chief executive officer owned 219,875 shares of the company’s stock, valued at $1,574,305. This trade represents a 3.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, August 27th, David Meniane bought 4,612 shares of CarParts.com stock. The shares were acquired at an average cost of $6.88 per share, with a total value of $31,730.56.

CarParts.com Trading Down 0.6%

Shares of PRTS stock opened at $7.23 on Tuesday. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $13.60. The company has a market cap of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 0.66. 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 50 day simple moving average of $5.96 and a 200-day simple moving average of $6.94.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.42. The firm 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%.

Analysts Set New Price Targets

A number of analysts have recently commented on PRTS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research note on Friday, July 17th. Royal Bank Of Canada lifted their price objective on CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $6.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in CarParts.com during the 4th quarter worth $25,000. Jane Street Group LLC acquired a new stake in shares of CarParts.com in the second quarter valued at about $25,000. Marshall Wace LLP lifted its stake in shares of CarParts.com by 345.8% in the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of CarParts.com by 249.6% in 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 in the last quarter. Finally, Private Management Group Inc. acquired a new position in CarParts.com during the third quarter worth about $65,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.

About CarParts.com

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.