CarParts.com (NASDAQ:PRTS) Director Barry Phelps Buys 9,900 Shares of Stock

Key Points

• Director Barry Phelps bought 9,900 CarParts.com shares at an average price of $6.48, investing $64,152 and increasing his direct ownership by 2.95% to 345,788 shares. He also purchased 100 shares the prior week.
• CarParts.com shares were recently trading near $6.38, with a market capitalization of approximately $51.45 million. The company reported quarterly revenue of $135.64 million and an adjusted EPS loss of $0.43, beating analyst estimates.
• Analyst sentiment remains cautious, with the stock carrying an average “Reduce” rating and a consensus price target of $6.00; institutional investors and hedge funds own 75.3% of the shares.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) Director Barry Phelps purchased 9,900 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $64,152.00. Following the purchase, the director directly owned 345,788 shares in the company, valued at approximately $2,240,706.24. This trade represents a 2.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Barry Phelps also recently made the following trade(s):

• On Thursday, August 20th, Barry Phelps acquired 100 shares of CarParts.com stock. The shares were purchased at an average cost of $6.15 per share, with a total value of $615.00.

CarParts.com Price Performance

Shares of NASDAQ:PRTS remained flat at $6.38 during mid-day trading on Wednesday. The company had a trading volume of 92,380 shares, compared to its average volume of 57,906. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $51.45 million, a P/E ratio of -1.47 and a beta of 0.66. CarParts.com, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $13.60. The business's 50 day moving average price is $5.91 and its 200 day moving average price is $6.89.

CarParts.com (NASDAQ:PRTS - Get Free Report) last released its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, beating 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 firm had revenue of $135.64 million for the quarter, compared to analysts' expectations of $129.04 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in shares of CarParts.com during the 2nd quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of CarParts.com during the 4th quarter worth approximately $25,000. Marshall Wace LLP boosted its holdings in shares of CarParts.com by 345.8% in the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer's stock valued at $51,000 after buying an additional 53,170 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of CarParts.com by 249.6% in the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer's stock valued at $55,000 after buying an additional 50,045 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in shares of CarParts.com in the third quarter valued at $65,000. 75.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of CarParts.com in a report on Friday, July 17th. Royal Bank Of Canada lifted their price target on shares of CarParts.com from $5.00 to $6.00 and gave the company 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 assigned a Sell rating to the company. According to data from MarketBeat.com, CarParts.com presently 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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