BlackRock Inc. Makes New $16.15 Million Investment in Motorcar Parts of America, Inc. $MPAA

Key Points

• BlackRock acquired 1.05 million shares of Motorcar Parts of America during the second quarter, worth approximately $16.15 million and representing a 5.57% stake. Institutional investors collectively own 83.48% of the company.
• Analyst sentiment is mixed, with ratings ranging from Buy to Sell and an overall “Hold” consensus; the average price target is $18.00 versus the stock’s reported $11.79 price.
• Motorcar Parts of America reported a significant quarterly earnings miss, posting a loss of $0.71 per share versus the expected $0.20 profit, while revenue of $168.02 million fell short of the $183 million forecast.

BlackRock Inc. purchased a new stake in shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,054,314 shares of the auto parts company's stock, valued at approximately $16,152,000. BlackRock Inc. owned approximately 5.57% of Motorcar Parts of America at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPAA. JPMorgan Chase & Co. increased its stake in shares of Motorcar Parts of America by 434.8% in the fourth quarter. JPMorgan Chase & Co. now owns 444,341 shares of the auto parts company's stock valued at $5,483,000 after buying an additional 361,259 shares during the period. Azarias Capital Management L.P. grew its stake in shares of Motorcar Parts of America by 146.2% in the first quarter. Azarias Capital Management L.P. now owns 532,869 shares of the auto parts company's stock worth $5,894,000 after purchasing an additional 316,461 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Motorcar Parts of America by 96.6% in the second quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company's stock worth $5,667,000 after purchasing an additional 248,637 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Motorcar Parts of America by 100.6% in the second quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company's stock valued at $5,031,000 after buying an additional 225,225 shares during the period. Finally, Donald Smith & CO. Inc. lifted its position in shares of Motorcar Parts of America by 21.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company's stock worth $11,850,000 after purchasing an additional 169,979 shares during the period. 83.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Motorcar Parts of America Stock Up 2.1%

Shares of NASDAQ:MPAA opened at $11.79 on Friday. The firm has a market capitalization of $223.18 million, a PE ratio of -38.03 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.39 and a current ratio of 1.44. Motorcar Parts of America, Inc. has a 52-week low of $9.29 and a 52-week high of $18.12. The firm has a fifty day moving average of $13.28 and a 200 day moving average of $12.11.

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

Insider Activity at Motorcar Parts of America

In related news, SVP Jamie Cook sold 14,074 shares of Motorcar Parts of America stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $15.03, for a total value of $211,532.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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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