Michael Huffaker Purchases 21,160 Shares of CarParts.com (NASDAQ:PRTS) Stock

Key Points

• COO Michael Huffaker bought 21,160 CarParts.com shares at an average price of $9.11, investing $192,767.60 and increasing his position by 35.21% to 81,262 shares. He has also made several other purchases recently.
• CarParts.com shares rose 5.3% to $10.00, near the company’s 12-month high of $10.02. The company recently reported better-than-expected quarterly results, with revenue of $135.64 million and an adjusted loss of $0.43 per share.
• Despite institutional investors owning 75.3% of the stock, analyst sentiment remains cautious: coverage indicates a consensus “Reduce” rating and an average price target of $6.00.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) COO Michael Huffaker purchased 21,160 shares of the stock in a transaction on Friday, September 4th. The shares were purchased at an average cost of $9.11 per share, with a total value of $192,767.60. Following the transaction, the chief operating officer owned 81,262 shares of the company's stock, valued at $740,296.82. This trade represents a 35.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, September 9th, Michael Huffaker acquired 36,580 shares of CarParts.com stock. The stock was purchased at an average price of $9.64 per share, for a total transaction of $352,631.20.
• On Tuesday, September 8th, Michael Huffaker acquired 21,718 shares of CarParts.com stock. The stock was purchased at an average cost of $9.35 per share, for a total transaction of $203,063.30.
• On Friday, August 28th, Michael Huffaker acquired 7,548 shares of CarParts.com stock. The shares were acquired at an average price of $7.16 per share, with a total value of $54,043.68.
• On Thursday, August 27th, Michael Huffaker acquired 4,614 shares of CarParts.com stock. The stock was acquired at an average cost of $6.88 per share, with a total value of $31,744.32.

CarParts.com Trading Up 5.3%

Shares of PRTS stock traded up $0.50 during mid-day trading on Wednesday, reaching $10.00. The company's stock had a trading volume of 132,698 shares, compared to its average volume of 58,581. 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 firm has a market capitalization of $80.70 million, a PE ratio of -2.31 and a beta of 0.71. The company's 50 day simple moving average is $6.24 and its 200-day simple moving average is $7.02. CarParts.com, Inc. has a 12-month low of $3.72 and a 12-month high of $10.02.

CarParts.com (NASDAQ:PRTS - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $129.04 million.

Institutional Investors Weigh In On CarParts.com

Large investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in CarParts.com during the 4th quarter worth $25,000. Jane Street Group LLC acquired a new position in shares of CarParts.com in the second quarter worth about $25,000. Marshall Wace LLP lifted its stake in shares of CarParts.com by 345.8% in the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer's stock worth $51,000 after acquiring an additional 53,170 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 purchasing an additional 50,045 shares during the last quarter. Finally, Private Management Group Inc. acquired a new stake in CarParts.com during the 3rd quarter valued at approximately $65,000. 75.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of CarParts.com in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.