American Century Companies Inc. Grows Stake in Motorcar Parts of America, Inc. $MPAA

Key Points

• American Century Companies Inc. increased its stake in Motorcar Parts of America, Inc. by 22.9%, owning 260,105 shares valued at approximately $2.47 million.
• Wall Street Zen upgraded Motorcar Parts of America from a "buy" to a "strong-buy" rating, contributing to a consensus rating of "Buy" with a price target of $14.00.
• Hedge funds and institutional investors collectively own 83.48% of Motorcar Parts of America's stock, indicating significant institutional interest in the company.

American Century Companies Inc. increased its position in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA - Free Report) by 22.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,105 shares of the auto parts company's stock after buying an additional 48,386 shares during the quarter. American Century Companies Inc. owned 1.33% of Motorcar Parts of America worth $2,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Motorcar Parts of America by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 961,295 shares of the auto parts company's stock worth $7,306,000 after purchasing an additional 2,960 shares during the last quarter. Northern Trust Corp boosted its stake in Motorcar Parts of America by 4.7% in the 4th quarter. Northern Trust Corp now owns 52,469 shares of the auto parts company's stock worth $399,000 after purchasing an additional 2,347 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Motorcar Parts of America in the 4th quarter worth $161,000. Jane Street Group LLC acquired a new position in shares of Motorcar Parts of America during the 4th quarter worth about $266,000. Finally, Ancora Advisors LLC acquired a new position in shares of Motorcar Parts of America during the 4th quarter worth about $512,000. 83.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Motorcar Parts of America from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Motorcar Parts of America presently has an average rating of "Buy" and an average target price of $14.00.

Motorcar Parts of America Trading Up 2.3%

NASDAQ MPAA traded up $0.33 during mid-day trading on Thursday, reaching $14.77. 24,597 shares of the stock were exchanged, compared to its average volume of 155,813. Motorcar Parts of America, Inc. has a one year low of $5.16 and a one year high of $15.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 0.42. The stock has a market cap of $285.70 million, a P/E ratio of 212.17 and a beta of 1.44. The stock has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $10.94.

Motorcar Parts of America Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.