86,583 Shares in Motorcar Parts of America, Inc. $MPAA Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 86,583 shares of Motorcar Parts of America in the second quarter, valued at approximately $1.33 million. Institutional investors collectively own 83.48% of MPAA.
• MPAA reported a quarterly loss of $0.71 per share, missing the $0.20 consensus estimate, while revenue of $168.02 million fell short of analysts’ $183 million forecast.
• The stock opened at $12.08, within a 52-week range of $9.29 to $18.12. Analyst sentiment is mixed, with an average “Hold” rating and an $18 consensus price target.

Empowered Funds LLC acquired a new position in Motorcar Parts of America, Inc. (NASDAQ:MPAA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 86,583 shares of the auto parts company's stock, valued at approximately $1,326,000. Empowered Funds LLC owned approximately 0.46% of Motorcar Parts of America at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Motorcar Parts of America by 2,191.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company's stock worth $32,000 after purchasing an additional 2,761 shares during the period. Quarry LP lifted its holdings in shares of Motorcar Parts of America by 1,117.9% in the third quarter. Quarry LP now owns 4,214 shares of the auto parts company's stock worth $70,000 after buying an additional 3,868 shares in the last quarter. State of Wyoming purchased a new position in shares of Motorcar Parts of America in the second quarter worth $74,000. JPMorgan Chase & Co. boosted its position in shares of Motorcar Parts of America by 7,127.3% during the second quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company's stock worth $98,000 after acquiring an additional 8,624 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Motorcar Parts of America during the second quarter valued at $109,000. 83.48% of the stock is owned by institutional investors.

Motorcar Parts of America Stock Performance

MPAA opened at $12.08 on Friday. The company has a market cap of $228.67 million, a P/E ratio of -38.97 and a beta of 1.16. The company has a quick ratio of 0.39, a current ratio of 1.44 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average price is $13.22 and its 200-day moving average price is $12.11. Motorcar Parts of America, Inc. has a 52-week low of $9.29 and a 52-week high of $18.12.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The auto parts company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.91). Motorcar Parts of America had a negative net margin of 0.53% and a negative return on equity of 0.57%. The firm had revenue of $168.02 million during the quarter, compared to analyst estimates of $183.00 million. As a group, equities analysts anticipate that Motorcar Parts of America, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on MPAA. Weiss Ratings cut shares of Motorcar Parts of America from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 25th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Motorcar Parts of America in a report on Tuesday, June 9th. Wall Street Zen lowered Motorcar Parts of America from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Raymond James Financial set a $16.00 price objective on Motorcar Parts of America in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.00.

Insider Transactions at Motorcar Parts of America

In other Motorcar Parts of America news, SVP Jamie Cook sold 14,074 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $15.03, for a total value of $211,532.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.40% of the company's stock.

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.

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