CarParts.com (NASDAQ:PRTS) COO Acquires $203,063.30 in Stock

Key Points

• CarParts.com COO Michael Huffaker bought 21,718 shares at an average price of $9.35, investing $203,063 and increasing his direct holdings by 26.73% to 102,980 shares. He also made several additional purchases in late August and early September.
• CarParts.com shares rose to $10.00, near their 52-week high of $10.02, despite the company’s $0.43 quarterly loss per share and negative net margin; revenue of $135.64 million exceeded analyst expectations.
• Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and an average price target of $6.00, while institutional investors own approximately 75.30% of the stock.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) COO Michael Huffaker acquired 21,718 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average cost of $9.35 per share, with a total value of $203,063.30. Following the purchase, the chief operating officer directly owned 102,980 shares of the company's stock, valued at $962,863. This trade represents a 26.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Michael Huffaker also recently made the following trade(s):

• On Wednesday, September 9th, Michael Huffaker purchased 36,580 shares of CarParts.com stock. The stock was acquired at an average cost of $9.64 per share, for a total transaction of $352,631.20.
• On Friday, September 4th, Michael Huffaker acquired 21,160 shares of CarParts.com stock. The stock was bought at an average price of $9.11 per share, for a total transaction of $192,767.60.
• On Friday, August 28th, Michael Huffaker purchased 7,548 shares of CarParts.com stock. The stock was bought at an average cost of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The shares were bought at an average price of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Price Performance

Shares of NASDAQ PRTS traded up $0.50 during mid-day trading on Wednesday, reaching $10.00. 132,698 shares of the company were exchanged, compared to its average volume of 58,581. CarParts.com, Inc. has a 52 week low of $3.72 and a 52 week high of $10.02. The company's 50 day moving average price is $6.24 and its 200 day moving average price is $7.02. The stock has a market capitalization of $80.70 million, a PE ratio of -2.31 and a beta of 0.71. 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 released its quarterly earnings results 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. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.The business had revenue of $135.64 million for the quarter, compared to the consensus estimate of $129.04 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of CarParts.com in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CarParts.com currently has a consensus rating of "Reduce" and an average price target of $6.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in CarParts.com during the 4th quarter valued at $25,000. Jane Street Group LLC purchased a new position in shares of CarParts.com in the second quarter valued at about $25,000. Marshall Wace LLP raised its stake in shares of CarParts.com by 345.8% during the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 53,170 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CarParts.com by 249.6% during the first quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer's stock valued at $55,000 after acquiring an additional 50,045 shares during the last quarter. Finally, Private Management Group Inc. purchased a new stake in shares of CarParts.com during the third quarter worth about $65,000. 75.30% of the stock is owned by hedge funds and other institutional investors.

About CarParts.com

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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