CarParts.com (NASDAQ:PRTS) COO Michael Huffaker Purchases 13,250 Shares

Key Points

• COO Michael Huffaker bought 13,250 CarParts.com shares at an average price of $10.06, investing $133,295 and increasing his ownership by 9.49% to 152,810 shares.
• CarParts.com shares fell 13.1% to $8.69, despite the company exceeding quarterly revenue and EPS expectations; it reported revenue of $135.64 million and an adjusted loss of $0.43 per share.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and a $6.00 average price target, below its recent trading price.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) COO Michael Huffaker bought 13,250 shares of the company's stock in a transaction on Thursday, September 10th. The stock was purchased at an average cost of $10.06 per share, with a total value of $133,295.00. Following the completion of the transaction, the chief operating officer owned 152,810 shares in the company, valued at $1,537,268.60. This represents a 9.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, 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, with a total value of $352,631.20.
• On Tuesday, September 8th, Michael Huffaker purchased 21,718 shares of CarParts.com stock. The stock was acquired at an average price of $9.35 per share, with a total value of $203,063.30.
• 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 bought 7,548 shares of CarParts.com stock. The stock was bought at an average price of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker purchased 4,614 shares of CarParts.com stock. The stock was bought at an average cost of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Stock Down 13.1%

Shares of PRTS traded down $1.31 during midday trading on Thursday, hitting $8.69. The company had a trading volume of 330,338 shares, compared to its average volume of 47,367. The company's 50-day simple moving average is $6.37 and its 200-day simple moving average is $7.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67. CarParts.com, Inc. has a 1 year low of $3.72 and a 1 year high of $10.98. The firm has a market capitalization of $70.13 million, a P/E ratio of -2.01 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of CarParts.com

Institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new position in shares of CarParts.com in the 4th quarter valued at $25,000. Jane Street Group LLC purchased a new stake in CarParts.com in the second quarter valued at $25,000. Marshall Wace LLP lifted its position in CarParts.com by 345.8% in 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 boosted its stake in CarParts.com by 249.6% in 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 in the last quarter. Finally, Private Management Group Inc. acquired a new position in CarParts.com in the third quarter valued at $65,000. Hedge funds and other institutional investors own 75.30% of the company's stock.

CarParts.com News Roundup

Here are the key news stories impacting CarParts.com this week:

• Positive Sentiment: CEO David Meniane purchased 79,539 shares between September 4 and September 9 for approximately $749,239, increasing his holdings to 299,414 shares. The purchases were made at prices ranging from $9.11 to $9.64 per share. SEC filings for CEO purchases
• Positive Sentiment: COO Michael Huffaker also bought 79,458 shares over the same period for approximately $748,462, increasing his position to 139,560 shares. The combined purchases by the CEO and COO totaled roughly $1.5 million and represent direct insider buying rather than stock awards or option exercises. SEC filings for COO purchases
• Neutral Sentiment: Reported short interest was listed at zero shares as of September 10, with a zero-day short-interest ratio. Because the report also shows an undefined percentage change from the prior period, the data appears inconsistent and offers no reliable evidence of either meaningful short selling or short-squeeze potential.
• Negative Sentiment: Analyst sentiment remains cautious: the consensus rating is “Reduce,” based on one Hold and one Sell rating, with a $6.00 average price target. That target is materially below recent trading levels, suggesting analysts view the stock as overvalued despite the insider purchases. MarketBeat PRTS analyst and stock information

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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