Weiss Ratings Reaffirms Hold (C-) Rating for Motorcar Parts of America (NASDAQ:MPAA)

Key Points

• Weiss Ratings has reaffirmed a "hold (C-)" rating for Motorcar Parts of America (NASDAQ:MPAA), indicating a neutral outlook based on their research report.
• The company's stock opened at $15.32 with a market capitalization of approximately $296.47 million and a P/E ratio of 218.89.
• Institutional investors significantly increased their stakes in Motorcar Parts of America, with notable increases from firms such as BNP Paribas Financial Markets and JPMorgan Chase & Co., bringing institutional ownership to 83.48%.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report)'s stock had its "hold (c-)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Motorcar Parts of America Price Performance

Motorcar Parts of America stock opened at $15.32 on Wednesday. The firm has a market cap of $296.47 million, a PE ratio of 218.89 and a beta of 1.43. The company's 50 day moving average is $14.65 and its two-hundred day moving average is $11.87. Motorcar Parts of America has a 52-week low of $5.16 and a 52-week high of $17.72. The company has a quick ratio of 0.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.16.

Institutional Trading of Motorcar Parts of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in shares of Motorcar Parts of America by 2,191.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company's stock valued at $32,000 after buying an additional 2,761 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Motorcar Parts of America in the second quarter valued at $45,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Motorcar Parts of America during the first quarter worth about $95,000. JPMorgan Chase & Co. increased its position in shares of Motorcar Parts of America by 7,127.3% during the second quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company's stock worth $98,000 after purchasing an additional 8,624 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Motorcar Parts of America in the 2nd quarter valued at about $109,000. Institutional investors and hedge funds own 83.48% of the company's stock.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.