Clearline Capital LP Has $7.95 Million Stock Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Clearline Capital LP sold 143,893 shares of Advance Auto Parts, reducing its stake by 41.5%, leaving it with approximately 202,782 shares worth around $7.95 million.
• Advancements in institutional ownership led to significant increases in stakes from several investors, with Hexagon Capital Partners raising its stake by 189%.
• Advance Auto Parts reported earnings of $0.69 per share, surpassing estimates, despite facing a 7.7% decrease in quarterly revenue compared to the previous year.

Clearline Capital LP trimmed its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 41.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,782 shares of the company's stock after selling 143,893 shares during the quarter. Clearline Capital LP owned 0.34% of Advance Auto Parts worth $7,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AMG National Trust Bank boosted its holdings in Advance Auto Parts by 38.1% during the first quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock valued at $1,710,000 after purchasing an additional 12,040 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Advance Auto Parts by 13.0% in the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock worth $8,269,000 after acquiring an additional 24,342 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock worth $107,500,000 after acquiring an additional 13,412 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock worth $2,305,000 after acquiring an additional 48,198 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in shares of Advance Auto Parts by 83.9% in the 4th quarter. Invenomic Capital Management LP now owns 157,644 shares of the company's stock worth $7,455,000 after acquiring an additional 71,928 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on AAP. Raymond James Financial boosted their target price on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a report on Monday, May 26th. Wall Street Zen raised Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. UBS Group set a $65.00 price objective on Advance Auto Parts and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Roth Capital set a $50.00 target price on shares of Advance Auto Parts and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, Argus reiterated a "hold" rating and set a $60.52 target price on shares of Advance Auto Parts in a research report on Friday, August 29th. One analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $52.03.

Advance Auto Parts Trading Down 1.8%

Shares of AAP traded down $1.10 during trading hours on Friday, reaching $61.10. The stock had a trading volume of 1,520,412 shares, compared to its average volume of 1,345,379. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The firm has a 50-day moving average of $59.18 and a 200 day moving average of $46.41. The company has a market cap of $3.67 billion, a P/E ratio of -9.59 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Advance Auto Parts's dividend payout ratio is presently -15.70%.

Insiders Place Their Bets

In related news, SVP Jason Hand sold 948 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the transaction, the senior vice president directly owned 9,876 shares of the company's stock, valued at approximately $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company's stock.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.