CarParts.com (NASDAQ:PRTS) CEO David Meniane Acquires 21,742 Shares of Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 21,742 shares of CarParts.com stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average price of $9.35 per share, with a total value of $203,287.70. Following the completion of the acquisition, the chief executive officer directly owned 262,771 shares of the company’s stock, valued at $2,456,908.85. This represents a 9.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 acquired at an average price of $9.64 per share, for a total transaction of $353,238.52.
• On Friday, September 4th, David Meniane purchased 21,154 shares of CarParts.com stock. The stock was bought at an average cost of $9.11 per share, for a total transaction of $192,712.94.
• On Friday, August 28th, David Meniane acquired 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.
• On Thursday, August 27th, David Meniane acquired 4,612 shares of CarParts.com stock. The shares were bought at an average cost of $6.88 per share, with a total value of $31,730.56.

CarParts.com Price Performance

Shares of PRTS traded up $0.50 during trading hours on Wednesday, hitting $10.00. 132,698 shares of the company were exchanged, compared to its average volume of 58,581. 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 company has a market capitalization of $80.70 million, a PE ratio of -2.31 and a beta of 0.71. The firm has a fifty day simple moving average of $6.24 and a 200-day simple moving average of $7.02. CarParts.com, Inc. has a one year low of $3.72 and a one year high of $10.02.

CarParts.com (NASDAQ:PRTS) last announced its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million.

Institutional Trading of CarParts.com

Several large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in shares of CarParts.com by 18.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock valued at $880,000 after purchasing an additional 277,807 shares in the last quarter. Citadel Advisors LLC raised its position in CarParts.com by 171.5% during the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock valued at $106,000 after buying an additional 93,971 shares during the period. Private Management Group Inc. acquired a new position in CarParts.com during the third quarter valued at $65,000. North Star Investment Management Corp. lifted its stake in CarParts.com by 6.3% in the 1st quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock worth $1,128,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in CarParts.com by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock worth $325,000 after acquiring an additional 84,064 shares during the period. 75.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.