CarParts.com (NASDAQ:PRTS) CEO Acquires $31,730.56 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane purchased 4,612 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $6.88 per share, with a total value of $31,730.56. Following the purchase, the chief executive officer owned 212,323 shares in the company, valued at $1,460,782.24. This represents a 2.22% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

CarParts.com Trading Up 6.6%

Shares of PRTS stock opened at $7.97 on Thursday. CarParts.com, Inc. has a 12 month low of $3.72 and a 12 month high of $13.60. The company has a market cap of $64.32 million, a PE ratio of -1.84 and a beta of 0.71. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $6.02 and its two-hundred day moving average is $6.96.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRTS. Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Friday, July 17th. Royal Bank Of Canada boosted their price objective on shares of CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $6.00.

Institutional Investors Weigh In On CarParts.com

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of CarParts.com by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock valued at $1,816,000 after purchasing an additional 56,857 shares during the period. Mackenzie Financial Corp raised its holdings in CarParts.com by 18.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock worth $880,000 after buying an additional 277,807 shares during the period. North Star Investment Management Corp. lifted its stake in CarParts.com by 6.3% in the first quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock valued at $1,128,000 after buying an additional 85,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in CarParts.com by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after buying an additional 35,900 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of CarParts.com by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after buying an additional 84,064 shares during the period. 75.30% of the stock is currently owned by institutional investors.

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.