David Meniane Buys 4,612 Shares of CarParts.com (NASDAQ:PRTS) Stock

Key Points

• CEO David Meniane purchased 4,612 CarParts.com shares at an average price of $6.88, investing $31,730.56 and increasing his holdings by 2.22% to 212,323 shares. He also acquired an additional 7,552 shares the following day at $7.16 each.
• CarParts.com shares fell 0.6% to $7.23, while the company reported a quarterly loss of $0.43 per share—better than the expected $0.85 loss—and revenue of $135.64 million, above estimates.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $6.00 average price target. Institutional investors own approximately 75.3% of the company.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) CEO David Meniane bought 4,612 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $6.88 per share, for a total transaction of $31,730.56. Following the transaction, the chief executive officer owned 212,323 shares in the company, valued at approximately $1,460,782.24. The trade was a 2.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

David Meniane also recently made the following trade(s):

• On Friday, August 28th, David Meniane acquired 7,552 shares of CarParts.com stock. The shares were acquired at an average price of $7.16 per share, for a total transaction of $54,072.32.

CarParts.com Stock Down 0.6%

PRTS stock traded down $0.04 during trading on Monday, hitting $7.23. 6,004 shares of the company's stock traded hands, compared to its average volume of 57,594. The firm has a market capitalization of $58.35 million, a P/E ratio of -1.67 and a beta of 0.66. CarParts.com, Inc. has a 1 year low of $3.72 and a 1 year high of $13.60. 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 fifty day simple moving average of $5.94 and a two-hundred day simple moving average of $6.93.

CarParts.com (NASDAQ:PRTS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share 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 firm had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million.

Institutional Investors Weigh In On CarParts.com

A number of hedge funds have recently modified their holdings of PRTS. State Street Corp grew its holdings in shares of CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer's stock valued at $119,000 after purchasing an additional 27,800 shares in the last quarter. Renaissance Technologies LLC boosted its position in CarParts.com by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer's stock valued at $676,000 after buying an additional 35,900 shares during the period. Geode Capital Management LLC boosted its position in CarParts.com by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer's stock valued at $325,000 after buying an additional 84,064 shares during the period. Citadel Advisors LLC grew its stake in shares of CarParts.com by 171.5% in the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer's stock worth $106,000 after acquiring an additional 93,971 shares in the last quarter. Finally, Private Management Group Inc. acquired a new position in shares of CarParts.com in the third quarter worth $65,000. Hedge funds and other institutional investors own 75.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PRTS shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of CarParts.com in a research note on Friday, July 17th. Royal Bank Of Canada upped their target price on 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 research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $6.00.

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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