Motorcar Parts of America, Inc. $MPAA Holdings Cut by Azarias Capital Management L.P.

Key Points

• Azarias Capital Management cut its Motorcar Parts of America stake by 30.8% in the third quarter, selling 141,163 shares and retaining 317,162 shares worth approximately $3.3 million. Institutional investors collectively own 83.48% of MPAA.
• MPAA shares traded at $10.39, near the lower end of their 12-month range of $9.29 to $18.12. The company recently reported a $0.71 quarterly loss per share, missing analysts’ $0.20 consensus estimate, while revenue also fell short of expectations.
• Analyst sentiment is mixed but leans cautious: MPAA has an average “Hold” rating and an $18 price target, with recent downgrades including a “strong sell” rating from Zacks Research.

Azarias Capital Management L.P. cut its position in Motorcar Parts of America, Inc. (NASDAQ:MPAA - Free Report) by 30.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,162 shares of the auto parts company's stock after selling 141,163 shares during the quarter. Motorcar Parts of America comprises 3.1% of Azarias Capital Management L.P.'s investment portfolio, making the stock its 11th biggest position. Azarias Capital Management L.P. owned about 1.68% of Motorcar Parts of America worth $3,327,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. State of Wyoming purchased a new position in shares of Motorcar Parts of America during the 2nd quarter valued at $74,000. Deutsche Bank AG purchased a new stake in shares of Motorcar Parts of America in the second quarter worth $196,000. Sei Investments Co. bought a new stake in Motorcar Parts of America during the first quarter valued at $311,000. Bank of America Corp DE boosted its stake in Motorcar Parts of America by 165.7% during the first quarter. Bank of America Corp DE now owns 30,049 shares of the auto parts company's stock valued at $332,000 after buying an additional 18,741 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in 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 buying an additional 4,347 shares during the period. 83.48% of the stock is owned by institutional investors.

Motorcar Parts of America Price Performance

Shares of NASDAQ:MPAA traded down $0.20 during trading on Wednesday, reaching $10.39. The company had a trading volume of 78,410 shares, compared to its average volume of 115,872. The company has a fifty day moving average of $11.38 and a two-hundred day moving average of $12.18. The company has a current ratio of 1.44, a quick ratio of 0.39 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $196.68 million, a P/E ratio of -33.52 and a beta of 1.19. Motorcar Parts of America, Inc. has a 12 month low of $9.29 and a 12 month high of $18.12.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) last released its earnings results on Monday, August 10th. The auto parts company reported ($0.71) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $183.00 million. Equities research analysts forecast that Motorcar Parts of America, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

MPAA has been the topic of a number of research analyst reports. Weiss Ratings lowered Motorcar Parts of America from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 25th. Raymond James Financial set a $16.00 price target on Motorcar Parts of America in a report on Tuesday, August 18th. Wall Street Zen downgraded Motorcar Parts of America from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Zacks Research lowered Motorcar Parts of America from a "hold" rating to a "strong sell" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Motorcar Parts of America has an average rating of "Hold" and an average target price of $18.00.

Motorcar Parts of America Profile

Motorcar Parts of America, Inc designs, manufactures, remanufactures and distributes automotive replacement parts for the aftermarket. Its product offerings primarily include rotating electrical components such as alternators and starters, along with brake-related products and other replacement parts used in passenger vehicles, light trucks and other applications.

The company sells products under several brand names, including Quality-Built, Pure Energy and DuraGo, and also supplies private-label products to automotive parts distributors and retailers.

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