CarParts.com (NASDAQ:PRTS) COO Purchases $352,631.20 in Stock

Key Points

• COO Michael Huffaker bought 36,580 CarParts.com shares for $352,631.20 at an average price of $9.64, increasing his holdings by 35.52% to 139,560 shares. He has made several additional purchases since late August.
• CarParts.com shares rose to $10.00, near their 52-week high of $10.02, while the company’s latest quarterly results beat estimates on both earnings and revenue. However, it remains unprofitable, with a negative net margin of 5.35%.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $6.00 target price, despite institutional investors owning 75.30% of outstanding shares.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) COO Michael Huffaker purchased 36,580 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average cost of $9.64 per share, with a total value of $352,631.20. Following the completion of the acquisition, the chief operating officer owned 139,560 shares in the company, valued at $1,345,358.40. The trade was a 35.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, September 8th, Michael Huffaker purchased 21,718 shares of CarParts.com stock. The shares were acquired at an average cost of $9.35 per share, for a total transaction of $203,063.30.
• On Friday, September 4th, Michael Huffaker acquired 21,160 shares of CarParts.com stock. The stock was acquired at an average price of $9.11 per share, with a total value of $192,767.60.
• On Friday, August 28th, Michael Huffaker acquired 7,548 shares of CarParts.com stock. The stock was acquired at an average cost of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker bought 4,614 shares of CarParts.com stock. The shares were acquired at an average price of $6.88 per share, for a total transaction of $31,744.32.

CarParts.com Stock Performance

Shares of PRTS traded up $0.50 during mid-day trading on Wednesday, hitting $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 52 week low of $3.72 and a 52 week high of $10.02. The stock's 50-day simple moving average is $6.24 and its 200-day simple moving average is $7.02. The firm has a market cap of $80.70 million, a price-to-earnings 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. The company had revenue of $135.64 million during the quarter, compared to the consensus estimate of $129.04 million. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%.

Hedge Funds Weigh In On CarParts.com

Several hedge funds and other institutional investors have recently made changes to their positions in PRTS. State Street Corp lifted its holdings in shares of CarParts.com by 13.2% during the 4th 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 increased its stake 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 raised its position in CarParts.com by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer's stock valued at $325,000 after purchasing an additional 84,064 shares in the last quarter. Citadel Advisors LLC raised its position in CarParts.com by 171.5% during the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer's stock valued at $106,000 after purchasing an additional 93,971 shares in the last quarter. Finally, Private Management Group Inc. acquired a new position in CarParts.com during the third quarter valued at approximately $65,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of CarParts.com in a research report 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average 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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