Insider Buying: CarParts.com (NASDAQ:PRTS) CEO Purchases $192,712.94 in Stock

CarParts.com, Inc. (NASDAQ:PRTS) CEO David Meniane bought 21,154 shares of the company’s stock in a transaction on Friday, September 4th. The shares were bought at an average price of $9.11 per share, for a total transaction of $192,712.94. Following the completion of the acquisition, the chief executive officer directly owned 241,029 shares in the company, valued at approximately $2,195,774.19. This trade represents a 9.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, September 10th, David Meniane acquired 13,250 shares of CarParts.com stock. The shares were bought at an average cost of $10.06 per share, with a total value of $133,295.00.
• On Wednesday, September 9th, David Meniane acquired 36,643 shares of CarParts.com stock. The shares were bought at an average price of $9.64 per share, for a total transaction of $353,238.52.
• On Tuesday, September 8th, David Meniane acquired 21,742 shares of CarParts.com stock. The stock was bought at an average cost of $9.35 per share, for a total transaction of $203,287.70.
• On Friday, August 28th, David Meniane acquired 7,552 shares of CarParts.com stock. The stock was bought at an average cost of $7.16 per share, for a total transaction of $54,072.32.
• On Thursday, August 27th, David Meniane purchased 4,612 shares of CarParts.com stock. The stock was purchased at an average cost of $6.88 per share, for a total transaction of $31,730.56.

CarParts.com Stock Up 7.1%

PRTS stock opened at $9.31 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. The stock has a market capitalization of $75.13 million, a P/E ratio of -2.15 and a beta of 0.71. The business has a 50-day moving average of $6.43 and a 200-day moving average of $7.07. CarParts.com, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $10.98.

CarParts.com (NASDAQ:PRTS) last announced its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million.

Institutional Investors Weigh In On CarParts.com

Several hedge funds have recently bought and sold shares of PRTS. Marshall Wace LLP increased its position in CarParts.com by 345.8% during the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of CarParts.com during the 2nd quarter worth approximately $25,000. Vanguard Group Inc. raised its stake in CarParts.com by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock valued at $1,816,000 after acquiring an additional 56,857 shares during the period. Mackenzie Financial Corp raised its stake in CarParts.com by 20.2% in the 3rd quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock valued at $1,068,000 after acquiring an additional 252,852 shares during the period. Finally, Private Management Group Inc. acquired a new stake in CarParts.com during the 3rd quarter valued at $65,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus 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.