CarParts.com (NASDAQ:PRTS) COO Michael Huffaker Acquires 7,548 Shares

Key Points

• COO Michael Huffaker bought 7,548 CarParts.com shares at an average price of $7.16, investing approximately $54,044 and increasing his direct stake by 14.36% to 60,102 shares. He also purchased 4,614 shares the previous day.
• CarParts.com shares traded at $7.23, while the company’s latest quarterly results showed an adjusted loss of $0.43 per share and revenue of $135.64 million, exceeding analyst expectations on both measures.
• Despite institutional investors owning 75.3% of the stock, analyst sentiment remains cautious: the consensus rating is “Reduce” with a $6.00 price target, compared with the recent trading price above $7.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) COO Michael Huffaker bought 7,548 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $7.16 per share, with a total value of $54,043.68. Following the acquisition, the chief operating officer directly owned 60,102 shares in the company, valued at $430,330.32. The trade was a 14.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, August 27th, Michael Huffaker bought 4,614 shares of CarParts.com stock. The stock was purchased at an average cost of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Trading Down 0.6%

NASDAQ:PRTS traded down $0.04 during trading hours on Monday, reaching $7.23. 6,004 shares of the stock were exchanged, compared to its average volume of 57,594. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $5.94 and a two-hundred day moving average of $6.93. CarParts.com, Inc. has a twelve month low of $3.72 and a twelve month high of $13.60. The company has a market capitalization of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 0.66.

CarParts.com (NASDAQ:PRTS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $129.04 million.

Institutional Investors Weigh In On CarParts.com

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of CarParts.com by 13.2% in the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer's stock valued at $119,000 after buying an additional 27,800 shares in the last quarter. Renaissance Technologies LLC lifted 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 valued at $676,000 after acquiring an additional 35,900 shares during the last quarter. Geode Capital Management LLC lifted its position in CarParts.com by 14.9% in the fourth 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 boosted its stake in CarParts.com by 171.5% in the third 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 in the last quarter. Finally, Private Management Group Inc. purchased a new position in shares of CarParts.com during the third quarter worth about $65,000. Hedge funds and other institutional investors own 75.30% of the company's stock.

Wall Street Analyst Weigh In

PRTS has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of CarParts.com in a report on Friday, July 17th. Royal Bank Of Canada boosted their price target on shares of CarParts.com from $5.00 to $6.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price 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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