Jump Financial LLC Purchases New Position in Advance Auto Parts, Inc. $AAP

Key Points

• Jump Financial LLC has acquired a new stake in Advance Auto Parts, purchasing 405,045 shares valued at approximately $15.88 million, representing 0.68% ownership as of their last SEC filing.
• Advance Auto Parts reported a quarterly earnings per share (EPS) of $0.69, exceeding estimates, with total revenue of $2.01 billion, although down 7.7% compared to the previous year.
• The company will pay a $0.25 quarterly dividend on October 24th, with a 1.7% yield, and has a negative dividend payout ratio of -15.70%.

Jump Financial LLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 405,045 shares of the company's stock, valued at approximately $15,882,000. Jump Financial LLC owned approximately 0.68% of Advance Auto Parts as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Advance Auto Parts in the first quarter valued at approximately $49,000. Exchange Traded Concepts LLC boosted its holdings in Advance Auto Parts by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after purchasing an additional 2,140 shares in the last quarter. Blue Trust Inc. boosted its holdings in Advance Auto Parts by 69.8% in the first quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock valued at $111,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after purchasing an additional 300 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAP has been the subject of several research analyst reports. DA Davidson set a $65.00 price objective on Advance Auto Parts in a report on Thursday, August 14th. Cowen reissued a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. UBS Group set a $65.00 price objective on Advance Auto Parts and gave the company a "neutral" rating in a report on Tuesday, August 12th. Wells Fargo & Company increased their price objective on Advance Auto Parts from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Finally, Raymond James Financial increased their price objective on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a report on Monday, May 26th. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Reduce" and an average price target of $50.80.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $57.8650 on Friday. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The business has a 50 day simple moving average of $55.69 and a 200-day simple moving average of $44.93. The stock has a market capitalization of $3.47 billion, a PE ratio of -9.08 and a beta of 1.05.

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

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio is -15.70%.

Insider Activity at Advance Auto Parts

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

Advance Auto Parts Company Profile

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.

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.