Algert Global LLC Reduces Holdings in Motorcar Parts of America, Inc. $MPAA

Key Points

• Algert Global cut its Motorcar Parts of America stake by 88.6% in the second quarter, selling 128,383 shares and retaining 16,501 shares worth approximately $253,000. Institutional investors collectively own 83.48% of MPAA.
• Analyst sentiment is mixed, with two Buy ratings, one Hold, and one Sell; the consensus rating is Hold with an $18.00 price target.
• MPAA shares opened at $11.62, while the company’s latest quarterly results fell short of expectations: it reported a $0.71 per-share loss versus an expected $0.20 profit and revenue of $168.02 million versus an $183 million estimate.

Algert Global LLC lessened its stake in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA - Free Report) by 88.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,501 shares of the auto parts company's stock after selling 128,383 shares during the quarter. Algert Global LLC owned approximately 0.09% of Motorcar Parts of America worth $253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. purchased a new stake in shares of Motorcar Parts of America during the second quarter worth about $18,965,000. Dimensional Fund Advisors LP increased its holdings in Motorcar Parts of America by 5.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,133,796 shares of the auto parts company's stock valued at $12,540,000 after purchasing an additional 57,191 shares during the period. Azarias Capital Management L.P. grew its position in shares of Motorcar Parts of America by 146.2% in the 1st quarter. Azarias Capital Management L.P. now owns 532,869 shares of the auto parts company's stock worth $5,894,000 after buying an additional 316,461 shares during the last quarter. Empowered Funds LLC grew its position in shares of Motorcar Parts of America by 10.1% in the 1st quarter. Empowered Funds LLC now owns 80,600 shares of the auto parts company's stock worth $891,000 after buying an additional 7,413 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Motorcar Parts of America by 12.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 38,523 shares of the auto parts company's stock valued at $426,000 after acquiring an additional 4,347 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MPAA. Raymond James Financial set a $16.00 price target on shares of Motorcar Parts of America in a research note on Tuesday, August 18th. Wall Street Zen cut Motorcar Parts of America from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 15th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Motorcar Parts of America in a report on Tuesday, June 9th. Finally, Weiss Ratings lowered Motorcar Parts of America from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 25th. Two research 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.com, the company presently has an average rating of "Hold" and a consensus price target of $18.00.

Motorcar Parts of America Stock Performance

Shares of Motorcar Parts of America stock opened at $11.62 on Tuesday. The stock has a market cap of $219.97 million, a price-to-earnings ratio of -37.48 and a beta of 1.16. The firm's 50-day moving average is $13.48 and its 200 day moving average is $12.07. 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 0.18, a current ratio of 1.44 and a quick ratio of 0.39.

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) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $183.00 million. Sell-side analysts anticipate that Motorcar Parts of America, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

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

Motorcar Parts of America Company Profile

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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