CarParts.com (NASDAQ:PRTS) CEO David Meniane Buys 21,742 Shares

Key Points

• CEO David Meniane bought 21,742 CarParts.com shares at an average of $9.35, investing $203,287.70 and increasing his direct stake by 9.02% to 262,771 shares. He has also made several additional purchases since late August.
• PRTS shares rose to $10.00, near their 52-week high of $10.02, while the company reported quarterly revenue of $135.64 million and a loss of $0.43 per share—better than analysts’ expectations.
• Despite insider and institutional buying, analysts remain cautious: the stock has a consensus “Reduce” rating and a $6.00 price target, compared with its recent $10.00 trading price.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) CEO David Meniane purchased 21,742 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $9.35 per share, for a total transaction of $203,287.70. Following the purchase, the chief executive officer directly owned 262,771 shares of the company's stock, valued at $2,456,908.85. This trade represents a 9.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Meniane also recently made the following trade(s):

• On Wednesday, September 9th, David Meniane purchased 36,643 shares of CarParts.com stock. The shares were acquired at an average cost of $9.64 per share, for a total transaction of $353,238.52.
• On Friday, September 4th, David Meniane acquired 21,154 shares of CarParts.com stock. The shares were acquired at an average price of $9.11 per share, with a total value of $192,712.94.
• On Friday, August 28th, David Meniane acquired 7,552 shares of CarParts.com stock. The stock was acquired at an average cost of $7.16 per share, with a total value of $54,072.32.
• On Thursday, August 27th, David Meniane bought 4,612 shares of CarParts.com stock. The stock was acquired at an average price of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Stock Performance

PRTS stock traded up $0.50 during trading on Wednesday, reaching $10.00. 132,698 shares of the company's stock were exchanged, compared to its average volume of 58,581. CarParts.com, Inc. has a 1-year low of $3.72 and a 1-year high of $10.02. The firm has a market cap of $80.70 million, a PE ratio of -2.31 and a beta of 0.71. The company's fifty day moving average price is $6.24 and its 200-day moving average price is $7.02. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

CarParts.com (NASDAQ:PRTS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.85) by $0.42. The business had revenue of $135.64 million for the quarter, compared to analysts' expectations of $129.04 million. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in CarParts.com by 13.2% during the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer's stock worth $119,000 after acquiring an additional 27,800 shares during the period. Renaissance Technologies LLC raised its position in CarParts.com by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer's stock worth $676,000 after acquiring an additional 35,900 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CarParts.com by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer's stock valued at $325,000 after acquiring an additional 84,064 shares during the last quarter. Citadel Advisors LLC lifted its holdings in CarParts.com by 171.5% in the 3rd quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer's stock valued at $106,000 after acquiring an additional 93,971 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in shares of CarParts.com during the 3rd quarter valued at about $65,000. Institutional investors own 75.30% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of CarParts.com in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $6.00.

CarParts.com Company Profile

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.

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